DIF Capital Partners (DIF) has announced that it has agreed to acquire a majority equity interest in Green Street Power Partners (Green Street).
The partnership will enable Green Street to continue its growth efforts and execute its 2 GW and growing pipeline. It will further grow DIF’s North American renewable portfolio and mark the first distributed solar generation platform in the North American market. Using its vertically integrated capabilities across development, legal, project financing, engineering, and project and asset management services, Green Street is well-positioned to achieve its development goals. Almost 275 million kWh of energy will be produced by Green Street's projects countrywide in 2023, replacing more than 200 thousand tonnes of CO2.
DIF’s investment will be executed through its DIF Infrastructure VII fund. The transaction is subject to customary conditions and approvals and is expected to close in early Q2 2023.
In connection with this transaction, Scotiabank and its legal advisor Orrick, Herrington & Sutcliffe LLP provided advice to Green Street. Macquarie Capital and its legal advisor Stoel Rives LLP provided advice to DIF.