DIF Capital Partners to take control of Swedish solar developer Alight

• Dutch investment manager DIF Capital Partners will spend EUR 150 million (USD 150m) in Nordic solar designer Alight AB and also obtain a majority stake in the business, the parties introduced today.

The bargain includes a secondary buy-out of a variety of existing shareholders.

Set up in 2013 as well as based in Stockholm, Alight establishes subsidy-free solar projects backed by power purchase agreements (PPAs). The business will make use of the investment to speed up the buildout of its near-term pipeline and sustain its change right into an independent power manufacturer.

Alight has greater than 1 GW of projects under growth in the Nordics, a huge part of which will certainly be built out within the next 24 months. It likewise has a further 170 MW under growth throughout Europe.

The business had a preliminary objective of building 1 GW of solar by 2025. Its existing aspiration is to provide 5 GW of PPA-backed solar projects across the Nordics and also Europe by the end of the decade.

Gijs Voskuyl, partner of DIF as well as head of investments for DIF Infrastructure VII, commented that the financier has been brought in by Alight's position as a first moving company in the growing Nordic solar market and also its customer-led technique to winning long-term solar contracts.

Alight president Harald Overholm claimed the financial investment will speed up the business's management in the subsidy-free solar build-out. "Our shipment of solar-as-a-service to major power individuals makes us a natural partner to firms of all sizes and markets," included Overholm.