- CVC DIF makes successful first divestment from Latin American portfolio
- Operational improvements at the Cerro Grande and Peralta sites yielded significant efficiency gains
- Peralta site saw all 50 towers upgraded as part of wide ranging value creation strategy
CVC DIF, the infrastructure strategy of leading global private markets manager CVC, is pleased to announce that DIF Infrastructure V (DIF V) and DIF Infrastructure VI (DIF VI) have completed the sale of the Cerro Grande and Peralta wind farm projects in Uruguay to Pluspetrol.
The portfolio represents the second largest private portfolio in Uruguay for renewable assets totalling more than 169MW of installed capacity across 72 Enercon E-92 turbines.
Cerro Grande is a c.52MW operational wind farm project acquired by DIF V in 2019. Peralta is a c.118MW operational wind farm acquired by DIF VI in 2021. During its ownership, CVC DIF successfully optimised operations at both sites, including delivering a project to upgrade all 50 towers at the Peralta site over an 18-month period.
Andrew Freeman, Partner and Head of Exits at CVC DIF, said: “We are excited to announce our first divestments in Latin America, marking a significant achievement for DIF V and DIF VI. These successful exits highlight the impact our proactive value creation approach can deliver.
CVC DIF continues to deliver superior returns for its investors whilst financing the energy transition. We remain committed to identifying and capitalizing on opportunities that drive both financial performance and sustainable growth.”
DIF V and DIF VI were advised on the transaction by Scotiabank (financial), Herbert Smith Freehills (legal, corporate) and Hughes & Hughes (legal, project).
