Singapore-based Nexif Energy looks set to go ahead with a $450 million wind farm investment in SA after Queensland-based retailer ERM Power signed deals to buy the renewable energy certificates it will generate.
The news comes as South Australia hit its renewable energy targets eight years ahead of schedule, with 53% of total energy generation coming from sun and wind sources.
“This is a good time to be in the
market as an independent power
producer as the market goes
through this transition phase”
Head of Australian operations Zeki Akbas, said: “The agreement for the 212-megawatt Lincoln Gap wind farm is expected to be the first of a series of similar deals to be reached over the next few weeks with electricity retailers and industrial customers.”
It is understood that the company is also targeting non-renewable deals in Australia, with Mr Akbas saying: “This is a good time to be in the market as an independent power producer as the market goes through this transition phase.”
Nexif, which is backed by private equity player Denham Capital, entered the Australian renewables market last year with a deal to buy two late-stage wind development projects from OneWind, as well as wind and solar projects in Western Australia.
South Australia parliament to debate blackout legislation
The South Australian State Government is set to put legislation before parliament to give powers to the Energy Minister to switch on gas fired plants and Australia’s biggest battery in the event of huge spikes in demand for power.
The proposed legislation will also give the Energy Minister the power to order interconnectors with other states to be turned on if South Australia needed additional power.
Wind energy policy attacked
Last year, South Australia experienced a total power blackout as wind turbines shut down due to a huge surge in demand.
SA Energy Minister Tom Koutsantonis said the green target result meant that South Australia was not only leading the nation, but leading the world in the field of renewable energy.
But Opposition leader Steven Marshall attacked the state government for its policies, saying: “We have this massive renewable energy in South Australia at the moment, which has delivered the highest prices and the least reliable power in the nation because we haven’t managed the transition effectively to renewable energy.”
