Nexif Ratch Energy (NRE) proudly announces the commercial operation of the Calabanga Solar Project (CARE) in Camarines Sur, Philippines, marking a significant milestone in the country’s solar energy market.
Successful Commissioning of the Calabanga Solar Project
On August 5, 2024, the Calabanga Solar Project (CARE) achieved commercial operation after completing a thorough testing and commissioning process by the National Grid Corporation of the Philippines. The 74.2 MWp ground-mounted solar PV project is the first utility-scale solar power project in the Bicol Region, now delivering clean energy to the national grid.
The project secures its revenue through a 10-year Power Supply Agreement with a subsidiary of Aboitiz Power Corporation Group, ensuring a stable financial foundation. This agreement underscores the project’s role in advancing the Philippines’ renewable energy goals.
Commitment to Renewable Energy in the Philippines
Nexif Ratch Energy (NRE) remains dedicated to the Philippine renewable energy market. NRE is currently developing the 145 MWp NPSI solar project in Visayas and several wind energy projects, including the San Miguel Bay nearshore wind project (up to 500 MW) and the Lucena offshore wind project (up to 450 MW).
Mr. Cyril Dissescou, CEO of Nexif Ratch Energy, expressed his enthusiasm: “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, added: “We appreciate the support from the Government of the Philippines and collaboration with our partners, lenders, and local communities in Camarines Sur. With the commercial operation of CARE and the progress on other projects, we remain on track with our planned growth trajectory.”
Expanding Renewable Energy Portfolio
NRE, headquartered in Singapore with regional offices across Southeast Asia, is a leading renewable energy company. The company originates, acquires, develops, constructs, and operates clean-energy power projects in the Asia Pacific region. Currently, NRE boasts a 378 MW portfolio of operating, under-construction, and shovel-ready hydro, solar, and wind assets. Additionally, their development pipeline includes over 6 GW of wind, solar, and energy storage projects.
This achievement highlights the growing importance of solar energy investment and the advancements in solar technology. The Calabanga Solar Project is a testament to NRE’s commitment to sustainable energy and the positive impact of green energy policies.
The successful operation of CARE not only supports the Philippines’ renewable energy objectives but also contributes to the broader solar energy market analysis, showcasing significant developments in the energy market trends.
Conclusion
Nexif Ratch Energy’s Calabanga Solar Project marks a major milestone in the renewable energy landscape of the Philippines. As NRE continues to expand its portfolio and develop new projects, it reinforces its role as a key player in the solar energy market, driving forward the global transition to clean and sustainable energy solutions.
Source：businesswire.com
