More News
POWER UTILITY | Staff Reporter, Singapore

Singapore-based Nexif Energy fully acquires OneWind's wind energy assets

Late-stage projects include Lincoln Gap in South Australia.

Sydney-based OneWind Australia, a Denham Capital-backed company, has transferred management of the Lincoln Gap and Glen Innes wind projects to a second Denham-backed company, Singapore-based Nexif Energy.

The media release said that Lincoln Gap in South Australia is scheduled to have 59 turbines, which could collectively generate between 150 MW and 177 MW, according to OneWind’s website. Glen Innes in New South Wales is scheduled to be a 75 MW wind farm.

“To accelerate development of our OneWind Australia projects Lincoln Gap and Glen Innes, we have tasked Nexif to undertake management of the projects, expanding the execution capabilities of the existing OneWind Australia team,” said Saurabh Anand, director at Denham Capital, in an emailed statement. “Nexif is well-located geographically to bring expertise and efficiency to the projects. We’re excited about this transition and the value the projects will bring to Australia in the near future, particularly with the recent positive changes in the Australian power renewable market.”

OneWind was formed in 2013 after Denham agreed to invest $75 million of equity in a 1 GW portfolio of Australian wind power projects. Denham co-invested with the portfolio’s other sponsors, Enersis Australia, National Power and Kato Capital, to create OneWind.

They were to have developed Glen Innes, a 100 MW project in New South Wales, Lincoln Gap, a 250 MW project in South Australia, and Cattle Hill, a 240 MW development in Tasmania.

Lincoln Gap and Glen Innes appear to have been downsized since then, according to the OneWind website.At the time, the partners aimed to achieve financial close on several phases in 2013 or in 2014.None of OneWind’s power projects had power purchase agreements and they have not been able to negotiate them over the last two years.In August, Denham comm

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.