The Lucena offshore wind project in the Philippines, developed by Nexif Ratch Energy, has been awarded the Green Lane Certificate by the Philippine Board of Investments (BOI).
On 26 November, Nexif Ratch Energy, owned by Singapore’s Nexif Energy and Thai Ratch Group, secured Green Lane Certificates for its 475 MW Lucena offshore wind and the 150 MWp Bacolod Solar projects.
The certification is designed to streamline the process of securing future permits and licenses, according to the agency.
“Our goal is to facilitate the timely and stress-free completion of your projects. We will be with you every step of the way,” said Ernesto Delos Reyes Jr. , BOI investment assistance service director.
The 475 MW Lucena offshore wind project is located in the municipalities of Lucena and Sariaya, Quezon province, Philippines.
The wind farm will be built by Nexif Ratch’s local subsidiary, ACX3 Capital Holdings Inc. (ACX3), with its output planned to be sold either through the national Green Energy Auction Programme (GEAP) or through a Power Sales Agreement or the wholesale electricity spot market.
Lucena is one of ACX3’s five offshore wind energy service contracts awarded by the Department of Energy (DOE).
The project, which is still in the pre-development stage, requires an investment of PHP 67 billion (approximately EUR 1.09 billion).
A few months ago, Denmark’s Copenhagen Energy and PetroGreen Energy Corporation received a Green Lane Certificate for its floating offshore wind projects in the Philippines.
The partners are working on developing three floating offshore wind farms off the coast of the Philippines, with a potential combined capacity of 4 GW.
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