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DIF
DIF Renewable Energy had its first closing on September 28th with the European Investment Bank, Sumitomo Mitsui Banking Corporation Europe Limited, Stichting Pensioenfonds DSM Nederland and Stichting Pensioenfonds Sabic as investors.
DIF Renewable Energy is an independent fund offering investors access to a portfolio of renewable energy assets in Europe with a moderate risk profile. DIF Renewable Energy focuses mainly on investments in onshore wind assets and also considers investments in solar, biomass and offshore wind.
The first closing took place at the EIB Forum on Investing in Energy Mastering Climate Change in Ljubljana. Mr. Torsten Gersfelt, EIB Vice-President said I welcome the participation of EIB in DIF Renewable Energy that improves access to implement renewable energy projects in North-West Europe.
The geographical focus of the fund is Europe and only selectively the USA and Canada. The targeted fund size is 150 million, with a first closing of 67.5 million. A second closing is foreseen in December 2007. The term of the fund is 10 years. An extensive and high quality pipeline of assets in Western-Europe is further growing through partnerships with major renewable energy players in Europe.
A dedicated team for DIF Renewable Energy is currently being established. Mr Jean- Pierre Sweerts, former head sustainable developments at Rabobank, acts as Managing Director. Mr Sweerts started with DIF per the beginning of June 2007.
DIF Profile
DIF is an independent management company offering investors access to portfolios of infrastructure assets. Run by senior executives, with business and finance backgrounds. Unique strengths are its value creation focus and capabilities, finance expertise, European reach, flexibility, and its strategic partnership approach. DIF launched its first fund, DIF PPP (Public Private Partnership), in 2005. This dedicated PPP fund has successfully invested in a number of PPP projects in Europe since its final closing (150 million) in 2006 and is now for more than 70% committed. A successor PPP fund will be launched in the first quarter of 2008.
