Nexif Energy has announced that it has reached financial close for the first stage of the Lincoln Gap Wind Farm in South Australia.
Located near Port Augusta, the 126MW first stage of the project involves the construction and operation of 36 wind turbines, supported by innovative offtake contracts with Snowy Hydro and ERM Power.
The full project, a 59-wind turbine farm, will produce 212MW, which is enough electricity to power approximately 155,000 homes.
“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,” Nexif Energy founder and co-CEO Matthew Bartley said.
“We value the support of all project stakeholders who have worked with us along the way to achieve this important milestone.”
The project will feed into the state’s electricity grid via the ElectraNet transmission network.
The wind farm also includes installation of a utility scale battery system of 10MW, with potential expansion capability to utilize battery technology advancements.
It will be one of Australia’s largest private sector-initiated and owned grid battery systems not underwritten by a government contract or funded by government grants.
The Clean Energy Finance Corporation (CEFC) will fund up to $150 million for construction of the first stage of the wind farm.
Lincoln Gap will be constructed under the terms of a turnkey contract with Senvion Australia and is expected to begin operation in Q1 2019.