Astris Finance is pleased to announce the successful sale of the Alpine portfolio of 29 solar plants owned by DIF to Terres d’Energie, whose majority stakeholder is Tenergie. Astris served as the sole financial advisor to DIF, an independent infrastructure fund manager. Alpine is the second transaction on which Astris has advised DIF, following the senior debt portfolio refinancing of the Durance solar PV assets in 2017.

The total capacity of this portfolio adds up to 107.8 MW, of which:
•   DIF III was a shareholder in projects which capacities totalled 97.8 MW
•   DIF IV was a shareholder in projects which capacities totalled 10MW

The portfolio included a mix of ground-mounted and rooftop assets, all of which entered commercial operation between 2009 and 2016. All projects benefit from 20-year Feed-in Tariffs.

Andrew Freeman, Head of Exits of DIF, said: “We are pleased with the completion of the sale of the Portfolio that was successfully optimized throughout the life of the assets, starting with acquiring individual projects or small portfolios, bringing some of them through construction, completing refinancings of two sub portfolios in 2016 and 2017, recontracting and then exiting via a competitive portfolio sales process.”

DIF
DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:
•   DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
•   DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.