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WFW advises DIF Capital Partners on Uruguayan onshore wind farm project financing4 May 2021

Watson Farley & Williams (“WFW”) together with Spanish law firm Gómez-Acebo & Pombo (“GA_P”) has advised DIF Capital Partners (“DIF”), through its DIF Infrastructure VI fund, on a project financing agreement with KfW (Kreditanstalt für Wiederaufbau), Landesbank Hessen-Thüringen Girozentrale and KfW IPEX-Bank GmbH in relation to DIF’s acquisition of the 117.5 MW Peralta I & II wind farm in Uruguay from ENERCON (“Enercon”).

The wind farm is located in Cuchilla de Peralta in the department of Tacuarembó, central Uruguay. It comprises 50 E-92 turbines and benefits from a 20-year power purchase agreement with UTE, Uruguay’s state-owned utility. Enercon will continue to maintain Peralta, with SEG Heliotec remaining responsible for its asset management.

This is the second Uruguayan project that DIF has acquired from Enercon following its acquisition of the 50MW Cerro Grande project in 2019, on which WFW and GA_P also advised.

DIF is an independent infrastructure fund manager, with €8.5bn of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. It invests in greenfield and operational infrastructure assets primarily in Europe, the Americas and Australasia.

The WFW Germany Banking & Finance team that advised DIF was led by Partner Dr Stefan Kilgus, supported by Associate Marie-Theres Recifo.

Stefan commented: “We are very pleased to have once again successfully advised DIF on a renewable energy project in South America, reinforcing WFW’s reputation as leading legal advisers on the financing of renewable energy projects in the region”.


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