THE Board of Investments (BoI) said Nexif Ratch Energy Investments Pte. Ltd.’s (NREI) solar power plant in Calabanga, Camarines Sur was declared operational in September, making it the first project in the region to launch after having gone through the green lane expedited-permit process.
In a statement on Monday, the BoI said NREI, through its affiliate Calabanga Renewable Energy, Inc., inaugurated Calabanga Solar Power Plant on Sept. 12.
“The facility in Camarines Sur is set to provide more than 2,000 jobs and will offset 36,000 metric tons of greenhouse gas emissions per year, equivalent to replacing a coal plant of similar capacity,” the investment promotion agency said.
“With over 137,000 solar panels, it delivers a 74-megawatt peak of clean energy and is set to power approximately 46,000 homes annually for the next 30 years,” it added.
The solar power plant is among NREI’s portfolio of renewable energy (RE) projects, along with the Bacolod Solar Power Project, San Miguel Bay Wind Power Project, and Lucena Wind Power Project.
According to the BoI, NREI’s projects support the Philippine Renewable Energy Plan, which aims to increase the share of RE in the electricity mix to 35% by 2030 and to 50% by 2040.
“This solar power project is more than a shift away from traditional energy sources,” BoI Investment Assistance Center Executive Director Bobby G. Fondevilla said.
“It will reduce the country’s carbon emissions, support the government’s efforts to lower energy costs, promote renewable energy, serve as a scenic attraction for locals and tourists, and create jobs while fostering skill development and innovation,” he added. — Justine Irish D. Tabile