DIF acquires share in Dutch solar player
DIF Capital Partners has signed an agreement to acquire 60% of Novar, a developer of solar and energy storage systems in the Netherlands.
DIF will be investing in Novar to support the expansion of its utility-scale solar, rooftop solar, and battery energy storage systems (BESS) portfolio. Novar, based in Groningen, Netherlands, currently owns and operates 440 MW of utility-scale solar, rooftop solar, and BESS projects. In addition, Novar is developing a private grid project in the Netherlands to connect its large-scale solar and BESS projects to the grid, as well as the first Dutch solar thermal and green hydrogen projects. Novar operates a fully integrated independent power producer (IPP) model.
DIF received financial advice from KPMG, commercial advice from McKinsey, technical advice from Arup, and legal advice from NautaDutilh. Voltiq provided financial advice to Novar, while Eversheds Sutherland and Hogan Lovells provided legal advice. The transaction is pending regulatory and other approvals and is expected to close in Q4 of 2023.
Country updates
-
-
September 22, 2023
Investment announced for 35 MW battery storage project in Eemshaven
RWE has reached a final investment decision for a 35 MW battery storage and 41 megawatt-hours (MWh) capacity project in Eemshaven, Netherlands. A total of 110 lithium-ion battery racks are set t...
Read more -
September 11, 2023
Investment announced in TouchWind by Mitsui O.S.K. Lines
Mitsui O.S.K. Lines, Ltd. (MOL) has announced that the company is investing in a floating wind technology start-up, TouchWind. Through its investment in TouchWind, MOL will adva...
Read more -
July 27, 2023
Cero acquires remaining 50% shares, takes sole ownership of Nara Solar
Cero Generation has acquired full ownership of Nara Solar, an early-stage developer of utility-scale photovoltaic solar energy projects. Nara Solar was launched in 2019 as a 50/50 joint venture betwee...
Read more -
July 13, 2023
CEE closes acquisition of 103.5 MW solar project in Groningen from Ecorus Group
The Hamburg-based CEE Group has acquired a ground-mounted solar photovoltaic park in the province of Groningen, the Netherlands, from the Dutch project developer Ecorus Group. The Fledderbosch ground...
Read more -
July 10, 2023
Sunrock, Goldbeck Solar inaugurate Maasvlakte project in Rotterdam
Solar developer Sunrock has started the commercial operation of the 25 MW Maasvlakte solar photovoltaic (PV) project, one of the largest solar rooftop systems in Europe. The Maas...
Read more
