Norton Rose Fulbright has advised OneWind Australia on the sale of its late-stage development wind projects in Australia to Nexif Energy. Both companies are backed by Denham Capital, an energy and resources global private equity firm.
Partner Ben Smits led the NRF team, and was assisted by Simon Curie, the firm’s global head of energy, as well as corporate associates Mitchell Kelly and Ashika Binodan.
Sydney-based OneWind sold the Lincoln Gap project in South Australia, which is scheduled to generate 150MW to 177MW, and the Glen Innes project in NSW, which is scheduled to be a 75MW wind farm. In addition to the two late-stage projects, the sale also included a 32% stake in RPVD Development, which owns the Walkaway ii wind and solar projects in Western Australia.
Financial details of the deal were not disclosed. The purchase comes soon after Nexif confirmed it has a contract with Senvion of Germany to engineer, supply, and construct Nexif’s two new wind generation projects in Australia.
Surender Singh, Nexif founder and co-CEO, said that the company’s wind-farm projects in Australia will represent an investment of over A$600 million when constructed.
Denham, a global energy and resources private equity firm with US$8.4bn in investments and committed capital, helped form OneWind in 2013 with a A$75m investment of equity. Denham also committed A$200m to Nexif in August last year.
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