UK-based energy-focused private equity firm Denham Capital has formed a partnership with Singapore-based Nexif Energy to develop, finance, construct and acquire conventional and renewable power generation assets across South East Asia.
Nexif Energy founder and co-chief executive officer Surender Singh said: "South East 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."
Nexif is an independent power management firm that has developed, financed, constructed or exited more than 4GW of projects, worth around $4.3bn, across Asia, Australia and the Middle East.
Matthew Bartley is also a co-founder and co-chief executive officer at Nexif.
Both firms are backed by significant experience and intend to take advantage of further opportunities in their target markets.
The new platform planned by the partners aims to initially establish itself as a power generation developer in South East Asia and Bangladesh, and is likely to expand across other regional markets in the future.
Denham Capital managing partner and co-president Scott Mackin 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 600MW Mariveles power generating plant in the Philippines.
"Through the Nexif Energy platform we anticipate investing more than $200m in project equity across the region."
Denham Capital director Saurabh Anand said: "The partnership with Nexif follows our strategy of backing the best management teams to develop and construct contracted power generation assets in high-growth markets with a fundamental need for power."