Dutch investor enters South America

Dutch infrastructure investment fund manager DIF Capital Partners has agreed to buy a 51.7MW wind farm in Uruguay from German manufacturer Enercon and compatriot developer Eab New Energy.

Cerro Grande consists of 22 units of Enercon’s E-92 EP2 model and was commissioned in 2018
Cerro Grande consists of 22 units of Enercon’s E-92 EP2 model and was commissioned in 2018

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Its acquisition of the 51.7MW Cerro Grande wind farm in eastern Uruguay will be DIF’s first investment in South America, having recently opened a regional office in Santiago, Chile.

Cerro Grande was fully commissioned in January 2018 and sells output to state-owned utility UTE (Uruguay Administración Nacional de Usinas y Transmisiones Eléctricas) under a 20-year power purchase agreement.

Cerro Grande comprises 22 Enercon E-92 EP2 turbines.

DIF managing partner Wim Blaasse explained this power deal "provides a high degree of predictability of future cash flows, making this an attractive investment for DIF’s investors".

Enercon will continue to provide operations and maintenance services at the wind farm, while SEG Heliotec will provide asset management services.

Closing of the transaction is subject to the usual consents from project counterparties, DIF stated, and is expected to take place in the course of 2019.

With the acquisition of Cerro Grande, DIF Capital Partners will have ownership stakes in 660MW of operational wind farms in the United States, Germany, France, as well as Uruguay, according to Windpower Intelligence, the research and data division of Windpower Monthly.

Uruguay has 1,647MW of operational wind capacity, according to Windpower Intelligence.

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