CALABANGA, Philippines--(BUSINESS WIRE)--Nexif Ratch Energy (NRE), a leading independent power producer focused on renewable energy solutions, is pleased to announce that the Calabanga Solar Project (CARE) located in Camarines Sur, South Luzon, Philippines, has successfully reached commercial operation on August 5, 2024. This milestone followed the completion of a rigorous testing and commissioning process conducted by the National Grid Corporation of the Philippines.
CARE is a 74.2 MWp ground-mounted solar PV project and the first utility-scale solar power project in the Bicol Region, delivering clean energy to the national grid. CARE will sell most of its electricity production through a 10-year Power Supply Agreement with a subsidiary of Aboitiz Power Corporation Group, ensuring stable revenue streams.
NRE is committed to the Philippine renewable energy market, currently developing the 145MWp NPSI solar project in Visayas as well as advancing the development of several wind energy projects including the San Miguel Bay nearshore wind project with a capacity of up to 500 MW and the Lucena offshore wind project with a capacity of up to 450 MW.
Mr Cyril Dissescou, CEO of Nexif Ratch Energy said, “We are delighted to announce the successful commercial operation of the Calabanga Solar Project, our first operating project in the Philippines. CARE demonstrates our commitment to delivering reliable and sustainable energy solutions, contributing to the Philippines' renewable energy objectives.”
Mr Surender Singh, Chairman of Nexif Ratch Energy said, “We appreciates the support from the Government of the Philippines and collaboration of our partners, lenders, and the local communities in Camarines Sur. With COD of the CARE and the strong progress we are making on other projects in target markets we remain track on our planned growth trajectory.”
For more information about NRE and its projects, visit www.nexifratch.com.
About Nexif Ratch Energy:
NRE is a renewable energy company that originates, acquires, develops, constructs, and operates clean-energy power projects in the Asia Pacific region. Headquartered in Singapore with regional offices across Southeast Asia, the Company has a 378 MW portfolio of operating, under construction and shovel ready hydro, solar and wind assets and a development pipeline of wind, solar, and energy storage projects totaling over 6 GW.
NRE is owned 51% by Nexif Energy (Singapore) and 49% by RATCH Group (Thailand).
