CVC DIF sells 169 MW wind portfolio
Published by Oliver Kleinschmidt,
Assistant Editor
Energy Global,
CVC DIF, the infrastructure strategy of leading global private markets manager CVC, has announced that DIF Infrastructure V (DIF V) and DIF Infrastructure VI (DIF VI) have completed the sale of the Cerro Grande and Peralta wind farm projects in Uruguay to Pluspetrol.
The portfolio represents the second largest private portfolio in Uruguay for renewable assets totaling more than 169 MW of installed capacity across 72 Enercon E-92 turbines.
Cerro Grande is a c.52 MW operational wind farm project acquired by DIF V in 2019. Peralta is a c.118 MW operational wind farm acquired by DIF VI in 2021. During its ownership, CVC DIF successfully optimised operations at both sites, including delivering a project to upgrade all 50 towers at the Peralta site over an 18 month period.
Andrew Freeman, Partner and Head of Exits at CVC DIF, said: “We are excited to announce our first divestments in Latin America, marking a significant achievement for DIF V and DIF VI. These successful exits highlight the impact our proactive value creation approach can deliver.
CVC DIF continues to deliver superior returns for its investors whilst financing the energy transition. We remain committed to identifying and capitalising on opportunities that drive both financial performance and sustainable growth.”
DIF V and DIF VI were advised on the transaction by Scotiabank (financial), Herbert Smith Freehills (legal, corporate) and Hughes & Hughes (legal, project).
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Read the article online at: https://www.energyglobal.com/wind/06122024/cvc-dif-sells-169-mw-wind-portfolio/
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