Merricks Capital Pty Ltd

A loan to help fund the Hudson Creek Power Station – a 12 MW gas power plant in Darwin – along with a solar farm. (Investment Decision July 2020)

About the Project

NAIF’s investment will help fund:

  • Hudson Creek Power Station, a 12MW capacity gas power plant in Darwin, and
  • Batchelor Solar Farm, a 10MW capacity solar farm, 100km south of Darwin

Power generated by the facilities will provide Rimfire, the largest private electricity retailer in the Territory, with up to 90 per cent of its future electricity generation needs.

Other benefits include the introduction of modern solar and gas generation infrastructure into the NT electricity network which is currently predominantly reliant on older, more expensive and less efficient gas and diesel generators and a contribution towards the NT’s renewable energy target of 50 per cent by 2030.

Indigenous Engagement

Under the terms of NAIF’s funding, the proponent will work with the Larrakia Nation Aboriginal Corporation (LNAC) to deliver cross cultural awareness training to employees and contractors and a range of other initiatives.

* Financial assistance to the project is subject to a number of conditions including the finalisation of the Northern Territory Government’s consideration and agreement for the approved funds to be advanced.

 

Economic Impact and Public Benefit

A total of 162 jobs are forecast during construction and 34 ongoing jobs. Total project value is forecast as $74m, with $224m forecast public benefit.

Other benefits include the introduction of modern solar and gas generation infrastructure into the NT electricity network which is currently predominantly reliant on older, more expensive and less efficient gas and diesel generators and a contribution towards the NT’s renewable energy target of 50 per cent by 2030.

 

Ministerial media release
Link to proponent

 “The commitment of NAIF to support the private sector in delivering cheaper and greener power is a perfect example of how Australia can replenish its aging power fleet and do our part for the environment,”

Merricks Capital CEO Adrian Redlich