On 29th October 2014 the DIF Renewable Energy and the Allianz Renewable Energy Fund signed the agreement for the sale of the assets with a total installed capacity of 57MW.
The projects are located in Germany, in the federal states of Sachsen-Anhalt, Sachsen, Hessen, Brandenburg and Mecklenburg-Vorpommern. The closing of the transaction is subject to anti-trust clearance, which is expected to be received by the end of November 2014.
This will be the second exit from the DIF Renewable Energy Fund, with 32 MW of German wind projects having been sold in March 2011.
DIF Renewable Energy was launched in 2007 and reached a final closing in 2008. The committed capital is € 134 million.
The fund has made 26 investments in onshore wind and solar energy projects in Germany, France, the Netherlands and Spain. Two onshore wind projects have been sold in 2011.
Fund manager DIF was established in 2005 as an independent fund management company and has circa €2bn of funds under management.
The firm invests in infrastructure assets that generate long term stable cash flows, including PPP/PFI and renewable energy assets in Europe and North America.
DIF has over 45 staff across 7 offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid and Toronto.