The wind farms are located in the Tacuarembó and Cerro Largo departments. Credit: Thorsten Schier/Shutterstock.

CVC DIF has announced the sale of its 169MW portfolio of Uruguayan wind farm projects to Pluspetrol for an undisclosed amount.

The transaction was carried out by DIF Infrastructure V and DIF Infrastructure VI.

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The portfolio, comprising the Cerro Grande and Peralta wind farms, is the second-largest private renewable asset portfolio in Uruguay and features 72 Enercon E-92 turbines.

CVC DIF was advised by Scotiabank on financial matters, and by Herbert Smith Freehills and Hughes & Hughes on legal and project-related aspects.

The deal marks Pluspetrol’s entry into the renewable power generation sector.

CVC DIF partner and head of exits Andrew Freeman stated: “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.

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“CVC DIF continues to deliver superior returns for its investors whilst financing the energy transition. We remain committed to identifying and capitalising on opportunities that drive both financial performance and sustainable growth.”

The Cerro Grande wind farm, with a 52MW capacity, was acquired by DIF Infrastructure V in 2019. The Peralta wind farm, with a 118MW capacity, was acquired by DIF Infrastructure VI in 2021.

During its ownership, CVC DIF optimised operations, including a project to upgrade all 50 towers at Peralta over 18 months.

The wind farms are located in the Tacuarembó and Cerro Largo departments and provide sustainable energy to 60,000 Uruguayan households.

They contribute to an annual reduction of 25,000 tonnes of CO₂, aligning with Uruguay’s energy grid matrix.

Pluspetrol plans to continue exploring opportunities linked to the energy transition.