Wind Industry News : Nexif Energy is all set to go ahead with the 212MW Lincoln Gap Wind Farm in Australia having reached financial close on first stage of the onshore wind project.

Nexif Energy is a joint venture between Nexif, a Singapore-based independent power management company and Denham Capital, an energy-focused private equity company.

According to the latest wind industry news updates, the first stage of the Lincoln Gap Wind Farm will involve installation and operation of 36 wind turbines. Put together, these wind turbines to be delivered by German wind turbine manufacturer Senvion will generate 126MW of output.

The first stage of the Lincoln Gap Wind Farm is backed by offtake agreements with utilities Snowy Hydro and ERM Power.

To be built with an investment of $450 million, the Lincoln Gap Wind Farm will come up in Port Augusta in South Australia, 15km to the west of Spencer Gulf.

Senvion Australia holds the contract to build the South Australian wind farm project which has been scheduled to begin commercial operations in Q1 2019, as per energy industry news reports.

The Lincoln Gap Wind Farm will feature 59 wind turbines from Senvion’s 3.6MW range which will produce enough wind energy to power close to 155,000 homes once the wind power project is linked to the South Australian power grid through the ElectraNet transmission lines.

Clean Energy Finance Corporation (CEFC) has been revealed to the project financier for the first stage of the Lincoln Gap Wind Farm. It will lend up to $115 million for the new wind farm project. Also, the wind power project will be helped by Investec which will arrange $30 million of facilities for working capital as well as letters of credit for the facility.

The Lincoln Gap Wind Farm will be complemented with a 10MW utility-scale battery system which can be potentially increased to 30MW in the future.

Matthew Bartley, the co-Founder and co-CEO of Nexif Energy, commenting on the progress of the Lincoln Gap Wind Farm project, said: “As a new, independent participant to the Australian market, we are excited to implement an innovative contracting strategy that will not only provide renewable power to thousands of Australian homes but also optimise the use of grid-scale battery storage on a commercial basis.”

For more Energy Industry news and Wind Industry news, keep following Business-News-Today.com.

  Australia, Denham Capital, Lincoln Gap Wind Farm, Nexif, Nexif Energy, Port Augusta, Senvion, South Australia, Wind industry news