The Board of Investments (BOI) has approved for green lane processing the P63.7-billion investments in solar and wind power projects of Singaporean-Thai firm Nexif Ratch Energy Investments Pte. Ltd. (NREI).
The BOI said it has granted the Certificate of Endorsement for Green Lane services for NREI’s solar and wind power projects in Camarines Sur, managed by its subsidiaries Calabanga Renewable Energy (CARE) Inc. and ACX3 Capital Holdings Inc.
The P3.7-billion Calabanga solar power project has a total capacity of 74.131 MWp/51.555 MW in Calabanga. Construction began in June 2023.
The P60-billion San Miguel Bay wind power project under ACX3 Capital is an offshore wind energy venture with a planned capacity of 500 MW. Located in the municipalities of Calabanga, Tinambac and Siruma, it is currently in its pre-development stage.
The target construction is scheduled to begin in the first quarter of 2026 while the commercial operation is expected by 2028.
NREI, a joint venture between Singapore-based Nexif Energy and Thailand-based Ratch Group established in 2011, specializes in developing, financing, building, acquiring and maintaining conventional and renewable power facilities.
The independent power producer’s projects in the country align with the national government’s Renewable Energy Plan, which targets 35 percent renewable energy in the electricity mix by 2030 and 50 percent by 2040.
