Denham Capital, a global energy-focused private equity firm, and Nexif, a Singapore-based independent power management company, recently announced a partnership to develop, finance, construct and opportunistically acquire conventional and renewable power generation assets across Southeast Asia.
The platform marks a return to the region for Denham and builds upon Nexif’s strong experience and relationship base.Surender Singh, a Founder and Co-Chief Executive Officer of Nexif Energy, said:
“We are excited to team with Denham in chartering the next phase of Nexif’s growth. Southeast Asia has a tremendous need for new power generation and we look forward to working with governments, our partners and the region’s communities to provide electricity solutions that are both economical and reliable.”
With Singh and fellow Founder and Co-Chief Executive Officer Matthew Bartley are Nexif’s team of highly experienced power development professionals. Together, they have developed, financed, constructed or exited more than four gigawatts of projects with an enterprise value of $4.3 billion in Asia, Australia and the Middle East.Matthew Bartley added:
“The Denham and Nexif Energy teams are leaders in the power generation development and investment space, having undertaken several projects in Asia and other global markets. We will be in a privileged position to take advantage of opportunities in our target markets and look forward to establishing this new platform as a leading power generation developer in Southeast Asia and Bangladesh, with potential future expansion into other regional markets."
During the last five years, the Nexif team worked as the manager for InfraCo Asia, an infrastructure platform funded by several European government development finance institutions. Prior to that, the core senior team also worked together under the leadership of Singh and Bartley in the Southeast Asia region for many years.Scott Mackin, Managing Partner and Co-President at Denham Capital, said:
“Denham Capital is delighted to partner with Surender, Matthew and their proven team with an outstanding track record in power sector. They are perfectly suited to build on our previous work in the region, which includes the successful development, construction and ultimate sale of our interest in GNPower’s 600 megawatt Mariveles power generating plant in the Philippines. Through the Nexif Energy platform we anticipate investing more than $200 million in project equity across the region.”
In addition to its GNPower investment, Denham’s Power team is currently active in Australia through its portfolio company, OneWind Australia. It also recently exited its investment in international solar developer Fotowatio Renewable Ventures (FRV), which has significant activities and a team on the ground in Australia.