Denham Capital closes sale of 2.7-GW Nexif Energy portfolio

Wind turbines. Photo by: City of Melbourne (http://www.melbourne.vic.gov.au).

US private equity investor Denham Capital has finalised the divestment of Nexif Energy’s 2.7-GW portfolio of Australian and Southeast Asian clean energy assets to Thai power producer Ratch Group plc (BKK:RATCH).

Nexif, Denham Capital’s Singaporean platform, offloaded the portfolio for USD 605 million (EUR 574.2m) in equity. The transaction gave the Nexif assets an enterprise value of over USD 1 billion, Denham Capital said on Thursday.

The portfolio in question consists of roughly 1.3 GW of capacity that will be in operation and under construction by 2023, as well as an additional 1.4 GW of projects at various stages of development that involve renewable, thermal generation and energy storage technologies. Of the total, close to 500 MW of power capacity has been switched on so far or is currently being installed. The capacity is located in Vietnam, Thailand, the Philippines and Australia.

Under the arrangement, unveiled in August 2022, Ratch will manage the assets through a new joint venture with Nexif named Nexif Ratch Energy Investments Pte Ltd.

(USD 1.0 = EUR 0.949)

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