Schiphol, Amsterdam-headquartered DIF has completed the acquisition of 100 percent of the Worcester Library and Historic Centre private finance initiative (PFI) project, located in the West Midlands of England.
The firm, which bought the £42 million (€59 million; $64 million) project from London-based fund manager Dalmore Capital, used its third infrastructure vehicle to fund the transaction. DIF Infrastructure III reached its final close on €800 million in March 2013.
The Worcester Library and Historic Centre PFI, a partnership between the University of Worcester and Worcestershire County Council, gathers a fully integrated public and university library, the county’s record office, its historic environment and archaeology service, as well as exhibition and drama spaces within a single facility.
The project reached financial close in 2010, with construction completed about two years later. Operational since 2012, it has a remaining concession life of 22 years under an availability-based payment scheme.
The transaction comes at a busy time for DIF, whose efforts at gaining a foothold in the North American market have proved successful on several occasions this year.
Having completed the first one in January, the firm closed the second of four planned Canadian solar deals when it bought the 10-megawatt (MW) Glenarm plant from Ontario-based developer Canadian Solar at the end of March.
Earlier that month, it also sealed its maiden US deal through the acquisition of 49 percent of the 30MW Lone Valley solar farm in California from Spanish renewables developer EDP Renováveis.