Firm: White & Case LLP (Nexif Energy)
Deal: White & Case has advised Nexif Energy on its development, and structurally subordinated project financing of the Lincoln Gap wind farm expansion.
Area: Corporate, Energy and resources
Key players: White & Case’s team was led by partners Adeline Pang, Joel Rennie and Michelle Keen. Support was given from counsels Mark Montag and Anna O’Reilly, and associates Kirsty Campbell, Isabella Jarrett, Alicia Jennison and Alena Kosmin.
Deal significance: The development and structurally subordinated financing will see Lincoln Gap Wind Farm expand from the 126 megawatt of capacity already under construction at the site, by adding an additional 86 megawatt of generating capacity.
Located just outside South Australia’s Port Augusta, Nexif Energy is backed by Denham Capital.
The Lincoln Gap Wind Energy Generation & Storage Project will include 59 turbines and a 10 megawatt hour battery storage system when it is complete, according to White & Case.
Its capability will allow it to generate 212 megawatt, and produce enough energy to power 155,000 households in South Australia.
White & Case partner Joel Rennie said that “Nexif’s increased investment in Lincoln Gap Wind Farm further demonstrates support for the Australian renewable energy market by international developers.”
He said “additional senior financing from the Clean Energy Finance Corporation and structurally subordinated financing from Westbourne Capital demonstrates the strong investment appetite of local financiers and investment funds to support well-structured clean energy projects.”
Co-lead on the deal Adeline Pang said that batteries and battery storage “is a growth technology.”
“The unsubsidised large-scale grid-connected battery installed at Lincoln Gap is a market-first for a greenfield wind development,” she continued.