DIF acquires Dutch energy firm

Credit: DIF

DIF Capital Partners has signed an agreement to acquire a majority share of Novar, the Dutch energy developer.

The firm will pick up 60% of Novar, which has 440MW of utility scale solar & BESS projects. Novar also boasts a 15GW development pipeline and is currently developing the largest private grid in the Netherlands.

Gijs Voskuyl, partner at DIF, said that the investment “presents an opportunity for DIF to support the Dutch solar energy market leader with a long track record of successfully delivering ground-mounted and rooftop projects”.

KPMG, McKinsey, Arup, and NautaDutilh advised DIF on the deal. Novar was supported by Voltiq, Eversheds Sutherlands and Hogan Lovells.

Meanwhile, DIF has also refinanced the Bay Village -Karratha Accommodation Project concession project in Australia. MUFG will provide the long-term senior debt.