A $450M South Australian wind farm planned by Nexif Energy, a Singapore-based company, is one step closer to reality after Queensland-based retailer ERM Power signed deals to purchase renewable energy certificates the farm will generate.
The agreement for the 212-megawatt Lincoln Gap wind farm is expected to be the first of a series of similar deals to be reached over the next few weeks with electricity retailers and industrial customers that will establish first two projects in Australia that is worth $600M in total as stated by Zeki Abas, the head of Australian operations.
Nexif entered the Australian renewables market last year with a deal to buy 2 late-stage wind developments from OneWind. Nexif is backed by private equity player Denham Capital. The 90 megawatt Glen Innes wind farm in New South Wales is expected within 6 weeks, with Lincoln gap to follow about 2 weeks later. The Lincoln Gap wind farm with 59 turbines will be constructed later this year.