Singapore power producer Nexif Energy has closed a finance deal with the Clean Energy Finance Corporation and Investec to provide $190 million towards the $300 million first stage of the Lincoln Gap Windfarm, as per news records. Records added that the the initial stage, to be built on a plateau next to the Eyre Highway, is capable of generating 126MW and will be paired with a 10MW battery storage unit. And further stage will add another 86MW in wind power delivering enough electricity to power around 155,000 homes once the project is fully operational.
Nexic Energy Australia executive director Zeki Akbas said construction of the wind farm is expected to begin by the end of this month. The 59 wind turbine project and battery storage power will generate an average workforce of between 110-130 people. The project has been underwritten by deals with ERM Power and Snowy Hydro, added news records.
The company informed the inclusion of 10MW battery storage at the wind farm as part of a major new development to more reliably integrate renewable energy into the National Electricity Market, with the large-scale battery delivering fast response storage capacity. CEFC wind sector lead Andrew Gardner said the project demonstrated a shift towards a stronger more integrated grid by incorporating latest technology at a greenfield site.
Nexif Energy was established in August 2015 by Nexif, a Singapore-based independent power management company, and Denham Capital, a leading global energy-focused private equity firm with more than $9.0 billion of invested and committed capital across eight fund vehicles.