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Aus company’s wind projects acquired by Singaporean power producer

Aus company’s wind projects acquired by Singaporean power producer

Ben Smits

Two firms have advised on the acquisition, which has seen one Denham Capital-backed company sell its Australian wind projects to another.

Firms: Norton Rose Fulbright (OneWind Australia); Baker McKenzie (Nexif Energy)

Deal: OneWind Australia has sold its late-stage development wind projects in Australia to Nexif Energy.

Value: Confidential

Area: M&A

Key players: The legal team advising OneWind Australia was led by Norton Rose Fulbright partner Ben Smits (pictured), with assistance from partner Simon Currie, as well as associates Mitchell Kelly and Ashika Binodan.

Deal significance: Sydney-based OneWind Australia is a Denham Capital-backed company, while Nexif Energy is an independent power producer based in Singapore. The latter is also a Denham-backed company.

This transaction between the two parties sees the sale of OneWind Australia’s late-stage development wind projects.

These projects include the Lincoln Gap project in South Australia, scheduled to have 59 turbines and which could collectively generate between 150MW and 177MW; the Glen Innes project in NSW, scheduled to be a 75MW wind farm; and a 32 per cent share in RPVD Development Pty Ltd, which owns the Walkaway II wind and solar projects in Western Australia.

Upon completion of the deal, Nexif confirms having entered into contracts with Senvion Gmbh of Germany to engineer, supply and construct Nexif’s two new wind generation projects in Australia.

“We are proud to announce this major milestone for our Australian wind farm projects, and we are looking forward to working with Senvion and starting construction in the next few months,” said Matthew Bartley, founder and co-CEO of Nexif.

“The company kicked off early works at the Glen Innes site in early January 2017 and has also begun offering market-based LGC and energy contracts to counterparties and customers.”

Norton Rose Fulbright partner Ben Smits also commented on the deal saying, “We are delighted to act for OneWind Australia on this strategic divestment”.

“The Australian power renewable market is experiencing unprecedented change, and it is an honour to work side-by-side key industry players such as Denham and Nexif as they play a fundamental role in transitioning towards cleaner power sources.”

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