Login
Aus company’s wind projects acquired by Singaporean power producer
Two firms have advised on the acquisition, which has seen one Denham Capital-backed company sell its Australian wind projects to another.
Emma Musgrave
Firms: Norton Rose Fulbright (OneWind Australia); Baker McKenzie (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.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
Email Emma on:
