Energy and resources-focused global private equity firm Denham Capital (Denham) has teamed with Nexif, a Singapore-based independent power management company, to form a venture investment platform that focuses on power assets in Southeast Asia.
The new platform is named Nexif Energy, with an aim to develop, finance, construct and opportunistically acquire conventional and renewable power generation assets across the region.
Denham has committed $200 million to invest in project equity across the region through the Nexif Energy platform.
“Southeast Asia has a tremendous need for new power generation and we look forward to working with governments, our partners and the region’s communities to provide electricity solutions that are both economical and reliable,” Surender Singh, a founder and co-chief executive officer of Nexif Energy, said in a statement.
The platform is managed by a team of experienced power development professionals from Nexif, as well as Denham’s power team.
The two teams have undertaken several projects in Asia and other global markets.
During the last five years, the Nexif team worked as the manager for InfraCo Asia, an infrastructure platform funded by several European government development finance institutions. They have also developed, financed, constructed or exited more than four gigawatts of projects, with an enterprise value of $4.3 billion in Asia, Australia and the Middle East.
On the other hand, currently active in Australia through its portfolio company, OneWind Australia, Denham’s power team returns to the region through the platform. It previously worked on the successful development, construction and sale of its interest in GNPower’s 600-megawatt Mariveles power generating plant in the Philippines.
“The partnership with Nexif follows our strategy of backing the best management teams to develop and construct contracted power generation assets in high-growth markets with a fundamental need for power,” added Saurabh Anand, director at Denham Capital.