BICOL REGION, PHILIPPINES

Nexif Ratch Inaugurates the First Utility Scale Power Project in BICOL Region

Hon. Vincenzo Renato Luigi R. Villafuerte, the Governor of the Province of Camarines Sur, presided over the inauguration ceremony held on September 12, 2024, marking the official opening of the CARE solar power project, the first utility scale solar power plant in Bicol Region.

The CARE solar power project is a 74 MWp ground-mounted solar PV project developed by Calabanga Renewable Energy (CARE) Inc., a subsidiary of Nexif Ratch Energy.

The inauguration was attended by the representatives from the Department of Energy, Board of Investment, Local Government Officials, National Grid Corporation of the Philippines, lenders, off-takers and key members of the development team.

The CARE Solar Power Project is set to make a substantial impact by generating up to 109,000 MWh of clean energy annually for the next 30 years. Majority of its output is contracted to Aboitiz Power’s group company under a 10-year Power Supply Agreement.

Nexif Ratch Energy is close to starting construction of another 145 MWp utility-scale solar project in Negros Island with the aim to achieve commercial operation in 2025 and intends to expand its renewable portfolio in Philippines into wind technology with two sizable projects: a 500 MW near shore wind project in San Miguel Bay and a 475 MW offshore wind project in Quezon.

Hon. Vincenzo Renato Luigi R. Villafuerte, the Governor of Province of Camarines Sur stated “Today is a bright day for the Province of Camarines Sur. We are thankful to Nexif Ratch Energy for choosing Camarines Sur to be the pioneer site for the largest solar power project in the Bicol region”.

Mr Surender Singh, Chairman of Nexif Ratch Energy said, “We appreciate the support our project teams have received from the Bicol community and collaboration of our partners and the lenders. This inauguration marks our commitment to meet the growing energy needs of Philippines through renewable resources.

Mr. Sakarin Tangkavachiranon, Director, Nexif Ratch Energy, added, “Today marks a significant milestone not just for Nexif Ratch Energy but for the Bicol Region. We are honored to have the Governor of Camarines Sur join us in this occasion, as we embark on a journey that will empower the communities and transform energy landscape for generations to come”.

About Nexif Ratch Energy:

Nexif Ratch Energy 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.

Nexif Ratch Energy is owned 51% by Nexif Energy (Singapore) and 49% by RATCH Group (Thailand).

Media Contact:
Chariya Poopisit
Nexif Ratch Energy
communications@nexifratch.com