Singapore’s Nexif recently signed a 75MW photovoltaic project in the Philippines. The company has another 150MW photovoltaic project under development.

　　On October 16, 2021, Nexis Energy of Singapore and SN Aboitiz Power (SNAP), a local electricity sales company in the Philippines, signed a 75MW photovoltaic project PSA (PPA). The project is located in Barangay Bonot-Santa Rosa, Calabanga municipality, Camarines Sur, South Luzon. According to Nexif's official website, the project has signed an EPC contract with China Power Construction and plans to start production in the second quarter of 2022. Original company website:

　　The project is ready to construct with the turn-key engineering, procurement and construction contract for the project having been signed with PowerChina. Construction is planned to commence in mid-2021 with the start of electricity generation in Q2 2022.

　　According to the agreement, SNAP will obtain electricity from Nexif's Calabanga Renewable Energy (CaRE) 75MWp photovoltaic project. The PSA contract period will be 10 years after the completion of the project at the end of 2022.

　　Joseph Yu, president and CEO of SNAP, said that the cooperation with Nexif demonstrates the company's commitment to providing customers with green power. "This is an important milestone for us. This project is our first long-term PSA agreement project and strengthens our position in providing customers with responsible green power," Yu said in a statement.

　　Since the Philippines ended the FIT plan for new renewable projects in 2016, the launch of new solar power projects has been slow. However, in recent years, as the cost of photovoltaic modules has decreased, even without government subsidies, the advantages of photovoltaic power generation in the power trading market have become more and more obvious. Many foreign and local power generation companies have also actively developed photovoltaic projects.

　　According to the Philippine electricity trading regulations, photovoltaic power generation has priority in power grid transactions. In addition, the Philippine government has introduced a minimum standard system for green power quotas, requiring distribution companies to have a certain percentage of green power in their power portfolio, and the minimum standards have increased year by year; the Philippine government has also granted some power sales companies green power supply certification qualifications and obtained Qualified electricity sales companies can provide users with green electricity use certification (the top 500 multinational companies often have green electricity purchase requirements), and electricity sales companies with green electricity supply certification will have a more competitive advantage.

　　In the above context, the power of the Philippine Power Distribution Company to sign the PV PSA is also increasing year by year, which has further promoted the development of photovoltaic projects.

　　"Nexif Energy is very pleased to establish a cooperative relationship with SNAP on the Calabanga project and look forward to establishing a long-term mutually beneficial cooperation. Through the power supply agreement of this project, we provide SNAP with a competitive advantage in serving customers in the highly competitive retail power supply market. "Nexif founder and co-CEO Matthew Bartley said.

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