Ratch, Nexif bring live 74-MWp solar park in the Philippines

Thailand-based independent power producer Ratch Group (BKK:RATCH) and its joint venture partner Nexif Energy of Singapore have launched commercial operations at a 74-MWp solar photovoltaic (PV) project in the Philippines.

Ratch said on Tuesday that most of the Calabanga park’s output will be supplied to local power company Aboitiz Power Corp (PSE:AP) under a 10-year power purchase agreement (PPA). The remaining electricity will be sold on the wholesale electricity spot market in the Philippines.

Revenues from the plant’s operations will be recognised from the third quarter of this year.

Located in the Camarines Sur province of South Luzon, the Calabanga PV park was installed by a consortium of PowerChina Huadong Engineering Co Ltd and PowerChina Philippines Corporation under a turnkey engineering, procurement and construction (EPC) arrangement.

The PV project was realised through a JV between Ratch and Nexif, called Nexif Ratch Energy, in which Nexif is the majority shareholder with a 51% stake. The joint business, set up to invest in renewable energy power projects in Southeast Asia, achieved financial closing on the project last summer.

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