Calabanga Renewable Energy Solar PV

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Calabanga Renewable Energy Solar PV

The Calabanga project is a 74.1MWp Ground-Mount Solar PV project located in Camarines Sur, South Luzon, Philippines that is under construction.

The project achieved financial close and commenced construction on 15 June 2023 and ss planned to achieve commercial operations by the second quarter of 2024. The project will be connected to the Luzon Grid Through a tap connection along the Naga-Tinambac 69kV line which is passing through the project site.

Key Updates

Power Offtake: Energy output from the project will be Sold Via a 10-year Power Supply Agreement with AP Renewables Inc. & Adventenergy Inc. For firm offtake of >85% of the Energy Generation at a fixed tariff. The balance Energy Shall be sold via WESM Or Direct Short-Term Contracts with commercial and contestable customers.

EPC: Construction is being undertaken via a Lump-Sum Turn-Key EPC contract with a Consortium of PowerChina Huadong Engineering Co. Ltd (“Offshore Contractor”) and PowerChina Philippines Corporation (“Onshore Contractor”).

Debt Financing: The project company signed the Financing Agreements on 12th May with security bank corporation. Completion of conditions precedent to financial close, and issuance of the notice to proceed for the construction of the project was issued of 15 June 2023.

Targets & Milestones

Below are key milestones as follows:

Construction Commencement     16th June 2023
Commercial Operations Date    Q2 2024
calabanga project Nexif



Business Strategy

Utilising our deep understand of power markets to formulate differentiated strategies to structure, develop and invest in energy transition projects to earn superior returns in high growth markets.

Value Addition

Demonstrated global capability in implementing value accretive power generation projects across the entire project cycle in competitive and regulated power markets, such capabilities include identifying, structuring, developing, acquiring, constructing, and managing power generation businesses.

Target Market

We create, invest in, and manage renewable energy transition businesses across South-East Asia and Australia.


Using established technologies, we optimise solutions to meet market needs in the energy transition including technologies such as hydro power, wind turbines, PV solar, battery energy storage systems and transitional gas fired generation.


We participate in power generation businesses where we can promote responsible environmental stewardship and socially responsible development; including where we can exercise our social responsibility to respect human rights.

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