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White & Case advises Nexif Energy on portfolio refinance

Global law firm White & Case has advised Nexif Energy on its AUD $397 million portfolio refinancing of Lincoln Gap Wind Farm and Snapper Point Gas Power Station.
 
"This is quite a unique portfolio of assets, with the renewable wind generation and firming gas peaker” said White & Case partner Joel Rennie, who led the Firm's deal team. "The portfolio refinancing structure recognised these features and gives Nexif a strong capital structure to continue with its development pipeline in Australia.”
 
Lincoln Gap Wind Farm is a 212MW wind farm located near Port Augusta in South Australia, which recently achieved full commercial operations. The wind farm will operate for 25 years, power 155,000 homes across South Australia and is supported by long-term offtake contracts with Snowy Hydro.
 
Snapper Point is a 154MW gas peaking plant located near Snapper Point in South Australia. The project will use five gas turbines leased for 25 years from the South Australian Government. Snowy Hydro has entered a long-term contract for a portion of the project capacity with the balance used to firm up Lincoln Gap Wind Farm in South Australia with some excess capacity available to the market.

The financing was provided by a syndicate of banks comprised of KfW, Westpac and SMBC.

The White & Case team which advised on the transaction was led by partner Joel Rennie (Sydney) and included associates Alexis Fong and Emily Moreton (both Melbourne) and Isabella Jarrett and Danielle Ingham (both Sydney).

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