Nexif Energy has reached financial close on the first 126MW stage of the Lincoln Gap wind farm in South Australia.
The Clean Energy Finance Corporation has lent up to A$150m (US$115m) for construction, while Investec has provided facilities totalling A$39m for working capital and letters of credit.
Senvion confirmed it will deliver and install 35 3.6M140 turbines for the project, which will eventually rise to 212MW and feature a 10MW battery storage system.
Lincoln Gap, which is located near Port Augusta, is supported by offtake contracts with Snowy Hydro and ERM Power and will feed into the Australian state’s electricity grid via the ElectraNet transmission network.
It is expected to be operational in the first quarter of 2019.
Nexif Energy founder and co-chief executive Matthew Bartley said: “We value the support of all project stakeholders who have worked with us along the way to achieve this important milestone.”
Image: Senvion
Banks fill Lincoln Gap coffers
Financial close reached on first 126MW stage of Australian wind farm
By EBS