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New RE player eyes P190-B offshore wind in Camarines Sur
ACX3 Capital Holdings, Inc. plans to invest approximately P189.5 billion to develop and operate a 500-megawatt offshore wind farm in San Miguel Bay, Camarines Sur, with power expected to be delivered to the national grid by 2030.
The San Miguel Bay Wind Power Project will span 6,237 hectares of municipal waters across Calabanga, Tinambac, and Siruma, and will deploy 60 wind turbine generators.
Construction is scheduled to begin in 2027 and run through 2029.
The estimated project cost includes P4.5 billion for pre-development, P85 billion for construction, and P100 billion for operations and maintenance, with an additional P7.3 billion projected for decommissioning by 2055.
ACX3, an affiliate of Singapore-based Nexif Ratch Energy Investments Pte. Ltd., is currently seeking environmental clearance from the Department of Environment and Natural Resources.
Logistics for the project will depend on a planned port development in Barangay Pambujan, Mercedes, Camarines Norte.
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