DIF Infrastructure II has acquired 100 percent of the 8.52-megawatt-peak (MWp) French solar photovoltaic (PV) power project from its original owner juwi EnR, a renewable energy specialist.
Amadousol solar PV power project, formerly known as the Sabaranis project, has been developed by juwi EnR in south-west France. The facility is expected to produce enough power each year to cover the annual consumption of around 3,500 households.
According to the agreement, juwi EnR will construct the project and manage the operation and maintenance of the entire facility, DIF said in a press release. The solar power plant is currently under construction and is expected to become fully operational in the first quarter of 2011.
The acquisition has been financed with non-recourse loan facilities provided by SaarLB, a German financial institution.
The current acquisition adds more than 8 megawatts of solar power to DIF’s portfolio. Last month, the firm acquired 10 solar projects in Southern France with installed capacity of 20 megawatts.
Earlier this month, DIF closed its second infrastructure and renewable fund on €571 million, beating its original target of €500 million after 20 months of fundraising.
Established in 2005, DIF currently manages a portfolio of €500 million of PPP/PFI and renewable energy assets.