Aboitiz Power Corp. through its renewable energy arm, Aboitiz Renewables Inc. (ARI), signed a joint venture agreement with Vena Energy and Vivant Energy Corp. to develop, construct and operate the 206 megawatts (MW) San Isidro wind power project in Northern Samar.
The parties signed on Tuesday signed an agreement forming Lihangin Wind Energy Corp.
The project is expected to reach financial close and start construction by fourth quarter.
Commercial operation is eyed by the first quarter of 2025.
James Arnold Villaroman, ARI president and chief operating officer, said in a statement the project is part of the company’s target to grow its renewable energy capacity to 4,600 MW.
Vivant Energy Corp. president and chief operating officer Emil Andre Garcia, said the 206 MW wind project will help the company attain its goal of increasing its RE portfolio to 30 percent by 2030.
Aboitiz Power eyes to spend P190 billion over the next decade for an additional 3,700 MW of renewable energy, growing its capacities to 4,600 MW or three times the company’s current renewables portfolio by 2030.
Vivant has a total capacity of 382 MW and is considered as one of the largest power providers in off-grid areas.
Vena Energy is a Singapore-based firm and has a portfolio of 330 MW in the Philippines. -Jed Macapagal
