Denham Capital and Nexif have signed a share sale agreement with Thailand’s RATCH Group for Nexif Energy’s portfolio of renewable energy and storage assets in the Asia Pacific.
Nexif and RATCH will work together to manage and continue to grow the Nexif Energy portfolio through a new Nexif-RATCH joint venture following completion of the transaction, which values Nexif Energy’s portfolio at an enterprise value in excess of $1bn, with a transaction equity value of $605m.
Nexif Energy’s 2.7GW portfolio includes the Lincoln Gap Wind Farm project in South Australia, a 222MW initiative comprising 212MW of wind turbines and 10MW of battery storage.
Elsewhere, Nexif Energy has delivered hydropower projects in Vietnam, solar projects in the Philippines, plus a 98MW combined cycle power project in Thailand.
Denham Capital and Nexif, a renewables focused power development and investment company, founded Nexif Energy in August 2015 to acquire, develop, construct and operate a clean energy-focused power generation and battery storage portfolio across Australia and south-east Asia.
Of the 2.7GW, nearly 500MW is operational or under construction, increasing to 1.3GW operational or under construction by 2023, and a further 1.4GW at various stages of development.
Nexif Energy has developed hybrid power solutions combining multiple renewable and gas-fired thermal generation technologies, in combination with energy storage.
This kind of hybrid model will be increasingly common around the globe, the company said.
Denham Capital Managing Director Saurabh Anand said: “We are proud of what we have built through our investment in Nexif Energy which has grown to comprise an impressive pipeline of nearly 3GW of renewable power generation and storage assets.
“This sale represents our second successful exit in both Australia and the Philippines. With its unique approach to hybrid power solutions, sizeable wind and gas projects in South Australia, hydropower projects in Vietnam and solar farms in the Philippines, Nexif Energy is perfectly positioned for its next phase of expansion, under the Nexif-RATCH partnership.”