ABOITIZ Renewables Inc. (ARI), Vena Energy Pte. Ltd., and Vivant Energy Corp. (Vivant Energy) will put up a 206-megawatt (MW) wind power project in Visayas.
Under the joint venture agreement signed by the renewable energy arm of Aboitiz Power Corp. with Singapore-based Vena and Vivant, the San Isidro wind power project in San Isidro, Northern Samar, Visayas.
The project is expected to reach financial close and start construction in the last quarter of this year while commercial operations is targeted in the first quarter of 2025. The joint venture will be called Lihangin Wind Energy Corp.
“We are excited to partner with Vena Energy and Vivant Energy so that together, we can contribute to the Philippines’ clean energy aspirations. This undertaking demonstrates ARI’s progress in growing its renewable energy capacity to 4,600 MW.
Each of these investments is an important step to achieving a 50:50 balance in our renewable and thermal portfolios. We are very excited for these opportunities to contribute to the country’s energy transition journey,” said ARI President and Chief Operating Officer James Arnold Villaroman.
Emil Andre M. Garcia, president and COO of Vivant Energy, said the partnership will help achieve the company’s goal to expand its RE portfolio to 30 percent by 2030.
“We welcome this opportunity to partner with two leaders in renewable energy development which share our vision of helping the country attain energy security while promoting renewable energy and contributing to countrywide development,” Garcia said.
“We are privileged to have gained the trust of Vena Energy, a leader in RE in the Asia Pacific region. We’re glad that our long-time partnership with AP has become stronger and has expanded to the RE space,” he added.