Denham Capital has sold Nexif Energy’s portfolio of Australian and Southeast Asian energy assets to Thailand’s RATCH Group.
The deal will see Nexif Energy and RATCH form Nexif RATCH Energy Investments, a joint venture to realise the growth of the portfolio’s pipeline.
In August 2022, Denham agreed to sell 100% of its equity interests in a deal valuing the Nexif Energy portfolio at an enterprise value of US$1bn and equity value of US$605m.
Nexif Energy has developed a project portfolio with a total capacity of around 2.7GW.
Of this, nearly 500MW is currently operational or under construction, increasing to almost 1.3GW operational or under construction by 2023, and a further approximately 1.4GW at various stages of development.
Partner and Co-head of Sustainable Infrastructure at Denham Capital Scott Mackin commented: “Our partnership with Nexif is a great example of Denham’s ‘Buy and Build’ investment strategy, where Denham and Nexif seeded the platform with assets and grew the business with a trusted management company.
“Denham and Nexif worked tirelessly to create commercial solutions for technical issues, like renewable power intermittency, which delivered premium value to the platform. We believe that hybrid power solutions, like those deployed by Nexif Energy, are fundamental to the energy transition, as economies grapple with the intermittency of renewables.”