Nexif Energy completes 222-MW Aussie wind project, closes refinancing

Lincoln Gap wind farm. Image by: Source: (www.lincolngapwindfarm.com.au).

April 26 (Renewables Now) - Singapore-based Nexif Energy today said its Lincoln Gap wind farm with 212 MW of turbines and 10 MW of battery storage has become fully operational near Port Augusta in South Australia.

The project was built in two stages -- a 126-MW stage one made up of 35 Senvion turbines and an 86-MW stage two featuring 24 Vestas 3.6-MW turbines.

Nexif Energy, which is backed by Denham Capital and focuses on Australia and South East Asia, also said that it has completed a AUD-397-million (USD 295m/EUR 271m) refinancing package with a group of lenders consisting of KfW, Sumitomo Mitsui Banking Corp (SMBC) and Westpac (ASX:WBC). The refinancing consolidates three existing debt facilities for the construction of the company’s Australian portfolio and comes as both stages of Lincoln Gap wind farm have now been completed and the 154-MW Snapper Point gas fired peaking power station is in advanced commissioning.

“With the construction complete of the current portfolio, our focus is now on implementing our plan to double the wind farm and 10-MW battery project from its existing 222 MW to 474 MW through the addition of a further 252 MW of wind capacity through a planned expansion,” said Nexif founder and co-chief executive Matthew Bartley.

“The close of the refinancing process positions Nexif Energy strongly for its next phase of expansion with its strong pipeline of South East Asian and Australian development projects,” added Denham Capital managing director Saurabh Anand.

Lincoln Gap wind farm is backed by two long-term Large-Scale Generation Certificate (LGC) agreements with ERM Power (ASX:EPW) and an offtake deal with Snowy Hydro.

(AUD 1 = USD 0.743/EUR 0.682)

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Browse all articles from Plamena Tisheva

Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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