Awarded Department of Energy's Certificate of Energy Project of National Significance for the 500 MW San Miguel Bay project and Board of Investment's Green Lane Certificate for the 475 MW Lucena project

MAKATI, Philippines, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Nexif Ratch Energy is proud to announce that its San Miguel Bay Wind Project has been granted the Certificate of Energy Project of National Significance (CEPNS) by the Department of Energy (DOE), marking a significant milestone in the company's efforts to advance the Philippines' renewable energy transition. This 500 MW offshore wind project, located in San Miguel Bay, Camarines Sur, will play a crucial role in meeting the country's renewable energy goals and enhancing energy security.

The CEPNS designation recognizes energy projects that represent significant capital investments (over PHP 3.5 billion) and are critical to national energy security and economic development. This certification fast-tracks the project's regulatory approvals, ensuring that it can move forward swiftly with streamlined coordination across government agencies and local government units (LGUs), facilitating its timely execution.

In addition to this milestone, Nexif Ratch Energy is pleased to announce that its Lucena Wind Power Project—a 475 MW offshore wind power development in Quezon Province—has also been awarded the Green Lane Certificate by the Philippines' Board of Investments (BOI). This certificate designates the project as a Strategic Investment, enabling a more efficient process for permits and licenses with both national agencies and LGUs. The San Miguel Bay Wind Project had previously been awarded the Green Lane Certificate in June 2024.

Together, the San Miguel Bay and Lucena Wind Power Projects represent Nexif Ratch Energy's most advanced offshore wind projects in the Philippines. These developments are part of a growing portfolio of renewable energy projects in the Philippines, which includes a total pipeline of 2.5 GW, with 219 MW already in operation and under construction.

Matthew Bartley, Chairman of the Development Committee of Nexif Ratch Energy, stated, “Nexif Ratch Energy's journey from hydro to solar and now to offshore wind is a testament to our ability to adapt, innovate, and scale in the renewable energy sector. Our track record of successfully delivering projects is grounded in our deep understanding of regulatory frameworks and our strong partnerships with contractors, financial institutions, and local communities. As we continue to grow, we remain committed to delivering impactful, sustainable energy solutions that benefit the Philippines and the broader region, while ensuring that every project is completed efficiently and in full compliance.”

Cyril Dissescou, CEO, stated, “With the support of the Department of Energy and the Board of Investments, we are poised to bring our offshore wind projects to fruition. Our progress in the San Miguel Bay and Lucena Wind Power Projects underscores our dedication to building a cleaner, more resilient energy future for the region.”

About Nexif Ratch Energy:

Nexif Ratch Energy is a renewable energy company that originates, acquires, develops, constructs, and operates clean-energy power projects in the Asia Pacific region. Headquartered in Singapore with regional offices across Southeast Asia, the Company has a 378 MW portfolio of operating, under construction and shovel ready hydro, solar and wind assets and a development pipeline of wind, solar, and energy storage totaling 3.6 GW.

Nexif Ratch Energy is owned 51% by Nexif Energy (Singapore) and 49% by RATCH Group (Thailand).

Chariya Poopisit

Nexif Ratch Energy
communications@nexifratch.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/803c1fb8-8898-46d3-9513-2f2d746fcfed