DIF Capital Partners (via its DIF Infrastructure VI fund and Dutch Climate Action Fund Equity Vintage 1 fund) has signed an agreement to acquire 60% of Novar, the leading developer of large-scale sustainable energy systems in the Netherlands.
The transaction marks the start of a long-term collaboration to deliver sustainable and innovative renewable energy solutions. As part of the investment, DIF will provide growth capital to among others support the expansion of Novar’s utility-scale solar, rooftop solar and Battery Energy Storage Systems (BESS) portfolio.
Headquartered in Groningen, Novar owns and operates 440MW of utility-scale solar PV, rooftop solar and BESS projects. It has a development project pipeline of more than 15GW. Novar is a front-runner in integrated energy solutions, currently developing the largest private grid project in the Netherlands, which will provide grid connection for several of its large-scale solar and BESS projects, as well as the first Dutch solar thermal and green hydrogen projects.
The company operates a fully integrated Independent Power Producer model, providing operation & maintenance, technical & commercial asset management and consultancy & flex services to its own portfolio and to third parties.
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