DIF Capital Partners (DIF) has announced the acquisition of a majority stake in a leading developer of subsidy-free solar projects in the Nordics Alight in London, the UK.

The purchase represents an investment of EUR150 million (US$150 million) and a secondary buy-out of a number of existing shareholders. The investment will help accelerate Alight will accelerate the building of its short-term portfolio of solar projects in the Nordic countries and Europe in general. Alight has offered Solar Power Purchase Agreements (PPAs) to large commercial and industrial (C&I) power energy users and has developed several of Sweden's largest solar parks. By 2023, Alight aims to have 5 GW of PPA-backed solar projects delivered across the Nordics and Europe and by 2025 to build 1 GW of solar assets.

Newsec Infra acted as a financial advisor for Alight and Mannheimer Swartling actes as a legal adviser. Augusta & Co actes as financial advisor for DIF and DLA Piper actes as a legal advisor.