DIF Infrastructure III has acquired the 10 MW Goldlight solar project located in the Town of Georgina, Ontario, Canada from Canadian Solar Inc.
The project reached commercial operations in January 2015 and sells power pursuant to a 20-year Ontario Power Authority feed-in-tariff contract.
The closing of the Goldlight acquisition represents the second solar project that has been acquired by DIF following the agreement that was signed with Canadian Solar in December 2013. The project reached financial close in February 2015 with construction and term financing for the project provided by Natixis, Rabobank and NordLB.
Paul Huebener, DIF's Head of Americas:
"We are pleased to acquire this project as part of our partnership with Canadian Solar. We continue to expand our North American portfolio with projects that will provide long term, stable cash flows for DIF's investors."
A week ago we reported that EDP Renováveis S.A. (EDPR) had reached an agreement with DIF Infrastructure III (DIF III), to sell a 49% equity shareholding in an operating solar PV power plant with 30 MW in California, USA. The Lone Valley solar PV power plant, located in the state of California, achieved COD in the 4 Q14 and sells its output through two 20- year power purchase agreement (PPA).
DIF Infrastructure III was launched in January 2012. The fund invests in PPP/PFI/P3 projects, renewable energy projects and other core infrastructure assets with a similar characteristics and risk/return profile in Europe and North America that provide long-term stable cash-flows with minimal commercial risk.