Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 301

Posts Tagged ‘wind farm’

sPower Completes 30-year PPA for Wind Farm in South Dakota

Posted by fidest press agency su domenica, 4 marzo 2018

sPower, a leading renewable energy Independent Power Producer (IPP), announced today that it has executed a 30-year Power Purchase Agreement (PPA) for its Prevailing Wind Park Project in South Dakota. The project is a 220 MW wind farm located in Charles Mix, Hutchinson and Bon Homme counties, S.D., originally developed by South Dakota local development group Prevailing Winds, who sold the project to sPower in October of 2017. The electricity generated by the project will be sold to a utility under a 30-year PPA. sPower expects to begin construction of the project later this year.The expected electricity generated at full capacity is enough to meet the consumption of up to 90,000 average South Dakota homes. This is equal to avoiding more than 486,000 metric tons of CO₂ emissions annually, representing the equivalent of the greenhouse gas emissions from 103,000 passenger vehicles driven over the course of one year.The project is expected to generate over $56,000,000 in tax revenue over the life of the project, which will be shared among the three local school districts, counties, townships and the state.
Ryan Creamer, sPower’s CEO, commented, “We are excited to be involved in this great project that will provide so many benefits to the state of South Dakota. The Prevailing Winds Project was a local idea that has blossomed into a great Project that we are privileged to be a part of.”

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Nexif Energy Achieves Financial Close on First Stage of the 212MW Lincoln Gap Wind Farm in Australia

Posted by fidest press agency su martedì, 14 novembre 2017

Port-AugustaPort Augusta. Nexif Energy, an independent power producer in Australia and Southeast Asia, has announced that it has reached financial close for the first stage of the Lincoln Gap Wind Farm in Australia.
Located near Port Augusta in South Australia, the Lincoln Gap Wind Farm project’s 126 megawatts (MW) first stage 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. The project will feed into the State’s electricity grid via the ElectraNet transmission network.The project also includes installation of a utility scale battery system of 10MW, with potential expansion capability to utilize battery technology advancements. This 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.“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,” said Matthew Bartley, a Founder and Co-Chief Executive Officer of Nexif Energy. “We value the support of all project stakeholders who have worked with us along the way to achieve this important milestone.”Lincoln Gap will be constructed under the terms of a turnkey contract with Senvion Australia and is expected to begin operation in Q1 2019. The Clean Energy Finance Corporation (CEFC) will act as financier, lending up to A$150M (US$115M) for construction of the first stage of the wind farm and Investec has provided facilities totalling A$39M (US$30M) for working capital and letters of credit.
“We are committed to becoming a leading regional independent power generation company and are striving to achieve this by briskly executing on our active projects in Australia, Vietnam and other markets such as Thailand, Bangladesh and the Philippines,” added Surender Singh, a Founder and Co-Chief Executive Officer of Nexif Energy. “We are also seeking additional large-scale investment opportunities in Asia-Pacific as we continue to look toward the future.”Nexif Energy was formed in 2015 by independent power management company Nexif and global private equity firm Denham Capital. Nexif Energy’s equity commitment for Lincoln Gap represents its largest investment to date.“This is another landmark project for Nexif Energy and builds upon prior Denham investments in Australia. We are excited to continue expanding Denham’s international power investment footprint across the Australian and Southeast Asian markets with the Nexif Energy platform,” said Denham Capital Director Saurabh Anand. “The region presents significant growth opportunities and we look forward to investing in more projects in the near future alongside Surender, Matthew and their team.”

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