DIF snaps up UK solar-storage portfolio

Feb 23, 2023 11:44 AM ET
  • Cero Generation as well as Enso Energy have actually established the projects which amount to 720MW and cover 7 sites
DIF snaps up UK solar-storage portfolio
Image: Enso Energy

DIF Capital Partners, along with Ib Vogt, has signed the acquisition of a 100% rate of interest in a 720MW portfolio of ready-to-build co-located solar and also battery projects in the UK.

DIF as well as Ib Vogt have acquired the portfolio from Enso Green Holdings Limited (EGHL), a joint venture between Cero Generation and also Enso Energy.

DIF's financial investment is being done through its DIF Framework VII fund, which will obtain a 90% rate of interest.

The UK-based portfolio, created by EGHL, contains seven sites with a complete capability of 720MW (380MW of solar as well as 340MW of battery storage).

Ib Vogt will provide Solar EPC as well as O&M solutions to the portfolio.

The acquisition of each project will certainly be completed when each site reaches the ready-to-build stage.

The very first 2 projects have currently been obtained and also have started construction; the assumption is that all projects are obtained by mid-2023 and that they are operational in between 2024 and also 2026.

All private sites are anticipated to take advantage of CfD contracts or power acquisition arrangements with business or energy offtakers.

DIF as well as Ib Vogt remain in the process of increasing a non-recourse debt funding facility to money the construction of the portfolio.

Gijs Voskuyl, companion and Head of Facilities at DIF Capital Partners, stated: "This purchase perfectly suits DIF's develop to core approach and also will make a substantial payment to the UK's efforts to accomplish internet zero by 2050.

" It represents DIF's initial straight financial investment right into the property class of energy scale energy storage, which is a crucial component of future electricity markets."

Marta Martínez Queimadelos, CEO of Cero Generation, said: "This portfolio will certainly make a substantial payment to the UK's efforts to achieve net absolutely no by 2050, with the co-location of solar as well as battery storage playing a crucial function in the de-carbonisation of the grid.

" We will remain to establish as well as supply the UK solar and battery projects in the joint venture's existing pipe, which extends to 5GW, and also a more 5GW of early-stage opportunities."

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