Nexif Energy, a power management company based in Singapore, announced the closing of the first stage of financing the Lincoln Gap Wind Farm in Australia. The full project will include the deployment of 59 wind turbines with a combined 212 MW, enough to power approximately 155,000 homes. The wind park will be connected to a utility scale battery system of 10 MW, with the potential for upgrades.
Starting off with the construction of 36 wind turbines, Nexif Energy negotiated innovative offtake contracts with Snowy Hydro and ERM Power to ensure the future funding. The connection to the battery system will produce the biggest grid without any involvement by the government. Operations are planned to begin in Q1 of 2019.
Nexif Energy evolved from a deal involving Nexif and the global private equity firm Denham Capital. The Lincoln Gap project is the largest investment since the founding of the company and they want to continue in this manner: “We are committed to becoming a leading regional independent power generation company and are striving to achieve this by briskly executing on our active projects in Australia, Vietnam and other markets such as Thailand, Bangladesh and the Philippines,” added Surender Singh, a Founder and Co-Chief Executive Officer of Nexif Energy. “We are also seeking additional large-scale investment opportunities in Asia-Pacific as we continue to look toward the future.”
Source: Nexif Energy
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