Denham Capital sells $1bn Nexif Energy portfolio

Denham Capital has completed a share sale agreement with Thailand’s RATCH Group PCL for Nexif Energy’s portfolio of Australian and Southeast Asian energy assets with an enterprise value in excess of $1bn.

In August 2022, Denham agreed to sell 100% of its equity interests in a deal valuing the Nexif Energy portfolio at an enterprise value of $1 billion and equity value of $605 million. Nexif Energy and RATCH have partnered to form the Nexif RATCH Energy Investments Pte Ltd joint venture.

Denham Capital, the global energy transition investment firm, and Nexif, the renewables-focused power development and investment company, founded Nexif Energy in August 2015 which Denham’s Sustainable Infrastructure team seeded with Australian wind power assets.

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Nexif Energy aimed to acquire, develop, construct and operate a clean energy-focused power generation and battery storage portfolio across Australia and Southeast Asia while maintaining high environmental and social standards.

Nexif Energy built a project portfolio with a total capacity of c2.7GW. Of this, nearly 500MW is currently operational or under construction, increasing to c1.3GW operational or under construction by 2023, and a further c1.4GW at various stages of development. In Australia, Nexif combined renewable power and gas-fired generation with battery storage offering the Australian market a firm power, “hybrid solution”.

Source: Private Equity Wire

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