Denham Capital keen on selling $774m of energy assets

US private equity fund Denham Capital is looking to shed $773.5m worth of Aussie and Asian assets, including renewable energy assets held by its Singapore-based platform Nexif Energy, The Australian reports.

Through Nexif, the Houston-based investor owns renewable energy assets in Vietnam, Thailand, the Philippines and Australia. Among them is the 464-MW Lincoln Gap wind farm near Port Augusta in South Australia, which is due to be fully completed by end-2021. The platform is also developing an 80-MW nearshore wind project in Vietnam together with Ratch Group and a 154-MW gas turbine peaking power plant in Australia.

Denham Capital has hired JPMorgan to assist it in the sale, according to the report.

In Australia, in particular, the asset divestment plan follows a series of sales marking exits from the Australian renewables market. Last year, UK-based John Laing Group unloaded stakes in 514 MW of wind assets in a deal worth $220.6m, while New Energy Solar this week announced buyers were found for two solar parks totalling 167 MW DC.

Meanwhile, US investment manager Elliott Management Corporation is on the hunt for buyers for its Australian solar power generation portfolio of roughly 300 MW, local media reported last week.

Source: Renewables Now