Nexif Energy, a joint venture between energy group Nexif and Denham Capital, is set to acquire a portfolio of Australian renewables projects developed by OneWind Australia, also a Denham-backed entity.
The deal includes the 212MW Lincoln Gap wind farm in South Australia, the 90MW Glen Innes project in New South Wales and a 32 percent stake in RPVD Development, a company which owns the Walkaway II wind and solar projects in Western Australia.
Nexif is now working to complete debt financing arrangements for the transaction and aims to start the construction of both the Lincoln Gap and Glen Innes wind projects in the first quarter of 2017, it said in a statement.
The size of the deal was not disclosed and Nexif Energy could not be reached for comment before press time.
Nexif Energy chose Senvion as the preferred turbine supplier and EPC contractor last month for the two large-scale projects after the company took over the day-to-day management of the two projects in late 2015.
The facilities were originally being developed by OneWind Australia, which Denham and three developers, comprising Enersis Australia, National Power and Kato Capital, founded in 2013. Denham invested $75 million through the company in a 1GW portfolio of wind projects under development.
In August 2015, Denham and Nexif formed Nexif Energy, a tie-up to develop renewable energy projects across Southeast Asia. The developer made its debut investment in a Vietnamese hydro project early this year and increased its stake in the facility last month.