The Board of Investments (BOI) has granted a Certificate of Endorsement for Green Lane services to Nexif Ratch Energy Investments Pte. Ltd. (NREI) in order to bolster its solar and wind power projects in Camarines Sur.
This endorsement will aid the firm’s initiatives, including the Calabanga Solar Power Project, managed by its subsidiaries ACX3 Capital Holdings Inc. (ACX3) and Calabanga Renewable Energy (CARE), Inc.
Construction of the Php 3.695 billion solar project, which would offer a capacity of 74.131-megawatt peak (MWp) or 51.555 megawatts (MW), began in June 2023 and has been endorsed to the Energy Regulatory Commission (ERC) by the Department of Energy (DOE).
Meanwhile, the San Miguel Bay Wind Power Project, led by ACX3 Capital Holdings Inc., is an offshore wind venture with a planned capacity of 500 MW and an estimated cost of Php 60 billion.
The wind project, situated in Calabanga, Tinambac, and Siruma, aims to reduce carbon emissions and is currently in the pre-development stage. Its construction is set to begin in the first quarter of 2026, with commercial operations expected by 2028.
The output of the wind project will be auctioned through the DOE’s Green Energy Auction Program (GEAP) or sold via a Power Sales Agreement (PSA) or the Wholesale Electricity Spot Market (WESM).
Additionally, Nexif Ratch Energy Co-Founder and Director Matthew Bartley expressed enthusiasm for supporting the Philippines Development Plan through renewable energy investments.
NREI, a joint venture between Nexif Energy and Ratch Group, specializes in developing and managing power facilities, aligning with the Philippines’ Renewable Energy Plan.
