Global law firm White & Case LLP has advised Nexif Energy on the AUD $190 million project financing and offtake arrangements for the 126 MW stage one of the Lincoln Gap Wind Farm, located near Port Augusta, South Australia.
Stage one includes a utility scale 10 MW battery storage to help improve the reliability of the electricity grid. Offtake arrangements have also been entered into with ERM and Snowy Hydro.
"I am really pleased to see Nexif Energy reach financial close on their first project in Australia, which is a significant milestone," said Sydney-based White & Case partner Joel Rennie, who led the Firm's deal team. "The addition of a utility scale 10MW battery storage continues the current trend of renewables projects being paired with storage capability to improve reliability and create other market opportunities for developers."
Financed by Clean Energy Finance Corporation and Investec, the project achieved financial close on November 6, 2017. When complete, the 212MW Lincoln Gap Wind Farm will connect to the national electricity grid via the Electranet transmission network and generate enough power to supply approximately 155,000 homes in South Australia.
The White & Case team which advised on the transaction was led by partners Ged Cochrane (Melbourne) and Joel Rennie (Sydney) and included counsel Candice Ota (Melbourne) and associates Alyse Mobrici and Toby Breheny (both Melbourne). Norton Rose Fulbright advised the CEFC and Herbert Smith Freehills advised Nexif Energy on the procurement and due diligence aspects of the transaction.
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