New RE player eyes P190-B offshore wind in Camarines Sur

RENEWABLE ENERGY (RE) developer ACX3 Capital Holdings, Inc. is proposing to build a 500-megawatt (MW) offshore wind farm in San Miguel Bay, Camarines Sur, in Bicol Region, with an estimated cost of P189.5 billion.

In its filing with the Department of Environment and Natural Resources, the company said the national grid is expected to receive power from the project, which targets commercial operations by 2030.

The proposed wind farm will occupy 6,237 hectares within the municipal waters of Calabanga, Siruma and Tinambac.

ACX3 said the project is designed to deploy 60 wind turbine generators, each with a rated capacity of between 8.5 MW and 8 MW.

Construction is scheduled to begin in 2027 and run through 2029.

The estimated project cost includes P4.5 billion for pre-development activities, P85 billion for construction, and P100 billion for operations and maintenance.

The company also estimated decommissioning costs at around P7.3 billion, expected to be incurred by 2055.

Offshore wind farms generate electricity as wind turns turbine blades, which convert kinetic energy into electrical energy transmitted via export cables.

ACX3 said logistics for the project will depend on a planned port development in Barangay Pambujan, Mercedes, Camarines Norte.

The port is envisioned to serve as a marshaling and assembly base, with facilities for turbine component handling and vessel berthing.

The company described offshore wind as “a highly reliable and variable form of renewable energy” because of its ability to generate electricity at high capacity factors.

“[Offshore wind] has the potential to become a major contributor to the national grid, complementing onshore wind and solar installations,” it said.

ACX3 focuses on developing and managing renewable energy and sustainable infrastructure projects.

It is backed by Nexif Energy Philippines Pte. Ltd., a joint venture between Singapore-based Nexif Ratch Energy Investments Pte. Ltd. and Thailand-based Ratch Group.

The firm is among several developers assisted by the Department of Energy that are projected to add more than 16 gigawatts (GW) of new capacity from offshore wind projects.

The Philippines aims to generate its first kilowatts of offshore wind power by 2028 as it seeks to diversify its energy mix and reduce dependence on fossil fuels. — Sheldeen Joy Talavera