Bacolod Floating Solar Power Plant (145MWp)

active

The project comprises the development of the 145MWp Bacolod Solar plant, located across Bacolod City and Bago City in the Negros Occidental province, the Philippines. The sponsor Nexif Ratch Energy has completed the financial phase in October 2024. The total investment exceeding $100 million is financed by equity from Nexif Ratch Energy and project financing facilities provided by Security Bank Corporation and Philippine National Bank on a limited recourse basis. SB Capital Investment Corporation acts as the Mandated Lead Arranger and Bookrunner, while PNB Capital and Investment Corporation serves as Arranger. The solar plant, constructed by Negros PH Solar Inc, is a ground-mounted photovoltaic installation with a capacity of 145 MWp that will be connected to the Bacolod Substation of the National Grid Corporation of the Philippines (NGCP). This infrastructure will supply electricity to approximately 52,600 households. Construction is scheduled to begin in October 2024, with commercial operations targeted for the fourth quarter of 2025. Nexif Ratch Energy also plans an expansion of the existing site, increasing solar photovoltaic capacity by an additional 20 MW and integrating a Battery Energy Storage System, to improve the stability and reliability of the electricity supply. The major part of the electricity generated will be sold to subsidiaries of Aboitiz Power Corporation Group under a 10-year power purchase agreement, but the remainder will be dispatched to the Philippines Wholesale Electricity Spot Market. https://energynews.pro/en/nexif-ratch-energy-finalizes-the-financial-close-of-its-145mwp-bacolod-solar-project-in-the-philippines/ ; https://www.ratch.co.th/en/updates/company-news/1225/ratch-accelerates-development-of-145-mwp-bacolod-solar-farm-in-the-philippines-aiming-for-commercial-operations-by-2025