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Friday, March 29, 2024

Denham Capital sells Nexif Energy for $US1b to Thailand’s Ratch

Nexif Energy’s owners started thinking of a sale in March 2021, while Tilt Renewables had tested and stoked investor interest. It hit pause in July and didn’t shortlist bidders until just before Christmas.

Ratch Group, was believed to have been advised by Azure Capital and French investment bank Natixis, while Nala was understood to have tapped UBS.

The Thai firm already has wind farms in Victoria, South Australia, Western Australia, Queensland and NSW. In 2019, it spent about $53 million on a 70 per cent equity stake in the 214-megawatt Yandin wind farm in WA. It also bought Victoria’s Toora wind farm in 2007.

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