RATCH Group Public Company Limited has announced that the Calabanga Solar Power Project in the Philippines, with a capacity of 74 MWp, officially commenced commercial operations on 5 August 2024.
This solar facility will primarily supply electricity to subsidiaries of Aboitiz Power Corporation under a 10-year power purchase agreement. Any surplus energy generated will be sold on the Wholesale Electricity Spot Market of the Philippines. RATCH holds a 49% stake in the project through its joint venture, Nexif Ratch Energy, a company focused on renewable energy investments across Southeast Asia. This equates to a 36.3 MWp share in the Calabanga solar farm for RATCH.
Nitus Voraphonpiput, CEO of RATCH Group, highlighted that the Calabanga solar power plant represents a significant milestone for the company and aligns with its commitment to supporting renewable energy initiatives in the Philippines. He also noted that RATCH, in partnership with Nexif Energy Invest, is actively pursuing several other renewable energy projects. These include the NPSI solar power plant with a 71.1 MWp equity capacity, as well as two wind power projects—the near-shore San Miguel Bay project and the Lucena offshore project, each with an estimated installed capacity of 220 MW.
“We are pleased to announce the successful completion of the Calabanga project, which has met all essential testing and commissioning standards. This facility will not only meet customer energy needs but also contribute to CO2 reduction efforts. The revenue from this project, expected to be recognised in the third quarter of this year, will further strengthen the company’s financial position,” Mr Voraphonpiput stated.
The Calabanga Solar Power Project is located in Camarines Sur, a province in the southern part of Luzon, Philippines.
