Nexif Energy Achieves Financial Close on First Stage of the 212MW Lincoln Gap Wind Farm in Australia
Nexif Energy, an independent power producer in Australia and Southeast Asia, has announced that it has reached financial close for the first stage of the Lincoln Gap Wind Farm in Australia.
Located near Port Augusta in South Australia, the Lincoln Gap Wind Farm project’s 126 megawatts (MW) first stage involves the construction and operation of 36 wind turbines, supported by innovative offtake contracts with Snowy Hydro and ERM Power. The full project, a 59-wind turbine farm, will produce 212MW, which is enough electricity to power approximately 155,000 homes. The project will feed into the State’s electricity grid via the ElectraNet transmission network.
The project also includes installation of a utility scale battery system of 10MW, with potential expansion capability to utilize battery technology advancements. This will be one of Australia’s largest private sector-initiated and owned grid battery systems not underwritten by a government contract or funded by government grants.
“As a new, independent participant to the Australian market, we are excited to implement an innovative contracting strategy that will not only provide renewable power to thousands of Australian homes but also optimise the use of grid-scale battery storage on a commercial basis,” said Matthew Bartley, a Founder and Co-Chief Executive Officer of Nexif Energy. “We value the support of all project stakeholders who have worked with us along the way to achieve this important milestone.”
Lincoln Gap will be constructed under the terms of a turnkey contract with Senvion Australia and is expected to begin operation in Q1 2019. The Clean Energy Finance Corporation (CEFC) will act as financier, lending up to A$150M (US$115M) for construction of the first stage of the wind farm and Investec has provided facilities totalling A$39M (US$30M) for working capital and letters of credit.
“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.”
Nexif Energy was formed in 2015 by independent power management company Nexif and global private equity firm Denham Capital. Nexif Energy’s equity commitment for Lincoln Gap represents its largest investment to date.
“This is another landmark project for Nexif Energy and builds upon prior Denham investments in Australia. We are excited to continue expanding Denham’s international power investment footprint across the Australian and Southeast Asian markets with the Nexif Energy platform,” said Denham Capital Director Saurabh Anand. “The region presents significant growth opportunities and we look forward to investing in more projects in the near future alongside Surender, Matthew and their team.”
About Nexif Energy
Nexif Energy was formed in August 2015 by Nexif, a Singapore-based independent power management company, and Denham Capital, a leading global energy-focused private equity firm with more than US$9.0 billion of invested and committed capital across eight fund vehicles. Nexif Energy’s goal is to develop, finance, construct and opportunistically acquire conventional and renewable power generation assets across Southeast Asia and Australia.
Krystal Patout, +1 936-870-6367
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Schlumberger Announces Third-Quarter 2018 Results Conference Call21.8.2018 17:05 | Pressemelding
Schlumberger Limited (NYSE:SLB) will hold a conference call on October 19, 2018 to discuss the results for the third quarter ending September 30, 2018. The conference call is scheduled to begin at 8:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time. To access the conference call, listeners should contact the Conference Call Operator at +1 (800) 288-8967 within North America or +1 (612) 333-4911 outside of North America approximately 10 minutes prior to the start of the call, and ask for the “Schlumberger Earnings Conference Call.” A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until November 19, 2018, and can be accessed by dialing +1 (800) 475-6701 withi
Amazon Game Studios Announces The Grand Tour Game21.8.2018 15:00 | Pressemelding
Amazon.com (NASDAQ: AMZN) today announced that Jeremy Clarkson, Richard Hammond, and James May are bringing high-jinks and hot laps to PlayStation 4 and Xbox One in The Grand Tour Game, an episodic racing game based on the hit Prime Original series, The Grand Tour. Created by Amazon Game Studios, The Grand Tour Game transports players to exotic locations, where they'll drive the world's most interesting cars, and participate in the show's outrageous challenges. New episodes of The Grand Tour Game will be added weekly during Season 3 of the show, capturing cars, locations, and surprises from each week's episode. Visit www.playthegrandtourgame.com for more information. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180821005353/en/ The Grand Tour Game puts players behind the wheel of the cars from Season 3, and brings them to the iconic locations the hosts will visit this season, including The Grand Tour's signature Eboladrome
Andersen Global Expands in Africa with Oliveira & Associados21.8.2018 13:30 | Pressemelding
Andersen Global continues its expansion in Africa through a Collaboration Agreement with Oliveira & Associados, a law firm based in Angola, founded by Formosa Oliveira in 2016. Andersen Global Chairman and Andersen Tax LLC CEO, Mark Vorsatz, commented, “The economy in Angola is one of the fastest growing in the world, and we are excited about adding this practice in a market that has a strong connection to Portugal and is strategic to our business in Portugal. Oliveira & Associados is an energetic and talented group, and with the addition of Isalcio Mahanjane e Associados in Mozambique last week, we have added key locations in our Portuguese and Iberian strategy.” With headquarters in Luanda, Oliveira & Associados provides legal services to both corporate and individual clients within Africa and globally. “Collaborating with Andersen Global will help us extend our reach as we develop and seamlessly deliver cross-border solutions,” remarked Formosa Oliveira. “With added tax and legal se
Mavenir Introduces RCS Business Messaging Partner Program to Enable MNO’s A2P Revenue Growth21.8.2018 13:00 | Pressemelding
Mavenir, the world’s #1 messaging systems provider and a leader in Rich Communication Services (RCS)—with an 85% market share in North America—today announced its RCS Business Messaging Partner Program with 15 confirmed partners. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180821005089/en/ Mavenir’s RBM Chatbot (Photo: Business Wire) The Mavenir RCS Business Messaging (RBM) solution enables brands, aggregators, content providers, enterprises and MNOs to monetize RCS messaging technologies and provide rich, multimedia end-user experiences from the native messaging application on mobile devices. This global partner program is focused on accelerating the adoption of RCS multimedia messaging by creating a community of industry leading messaging partners to provide MNOs with a compelling business-to-consumer (B2C) messaging channel and become the platform of choice for advertisers, brands, content providers and enterprises to
Dynacor Announces First Quarterly Dividend Payment21.8.2018 12:03 | Pressemelding
Dynacor Gold Mines Inc. (TSX: DNG) (OTC: DNGDF) (Dynacor or the Corporation) is pleased to announce today that its Board of Directors (Board) has approved the initiation of quarterly cash dividends to its shareholders and the declaration of the first cash dividend in the company's history. The dividend of CAD$ 0.01 per common share, is payable on October 1, 2018 to shareholders of record on September 20, 2018. Dynacor is one of the largest ore purchasing processors in Peru. With its new ore processing facility operating at near full capacity, the Corporation is forecasting 2018 to be its best year on record. Dynacor’s stable business model is proven to withstand the volatility of the gold price. The Corporation is free of debt, in a healthy financial situation and working towards its 30th consecutive quarter of profits. President and CEO Jean Martineau states, “Our team has worked very hard to build the Corporation to what it is today. Our solid financial situation and leadership posit
FAA Approves AerTrak for Boeing 757-200 Series Aircraft to Comply with Automatic Dependent Surveillance-Broadcast (ADS-B) Operations Mandate21.8.2018 12:00 | Pressemelding
The Federal Aviation Administration (FAA) has issued a Supplemental Type Certificate (STC) for installation of AerSale®’s AerTrak™ system on Boeing 757-200 series aircraft (ST04011NY), to comply with the Automatic Dependent Surveillance-Broadcast (ADS-B) Operations rule, a critical part of the agency’s Next Generation Air Transportation System (NextGen). Beginning January 1, 2020, the FAA has mandated that aircraft operating in airspace defined by 14 CFR § 91.225 must be equipped with an ADS-B Out system that meets the minimum performance requirements of 14 CFR § 91.227. The FAA approved AerTrak for Boeing 737 NG series aircraft (ST04009NY) earlier this year. ADS-B provides enhanced navigational accuracy using precise tracking via global positioning satellite (GPS) signals. Reducing risk and improving safety, the technology increases navigational coverage, especially in remote areas beyond radar range. Additionally, ADS-B enables more direct flight plans, thereby saving time, costs, an