NAIF approves gas plant loan
3rd September 2020Infrastructure
Funds from the latest Northern Australia Infrastructure Facility (NAIF) loan will help construct a new gas power plant in Darwin.
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.