The $37 million loan to investment manager Merricks Capital will help fund the Hudson Creek Power Station – a 12 MW gas power plant in Darwin – along with a solar farm.
Northern Territory electricity retailer Rimfire will use the power from the new facilities for a large portion of its future electricity generation needs in a move NAIF said will improve the efficiency of the region’s gas generation infrastructure.
NAIF CEO Chris Wade said it was an exciting time for development in the NT.
“We are delighted to support Merricks with funding towards an exciting power generation project that promises to deliver modern, more efficient and cleaner power generation in the Territory,” he said.
“NAIF has now approved or conditionally approved more than $830 million in funding to projects in the Territory with more deals on the way.”
A total of 162 jobs are expected to be created from construction and the proponent will work with the Larrakia Nation Aboriginal Corporation to deliver cross cultural awareness training to employees and contractors and a range of other initiatives.
For more information visit the NAIF website.
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