Aboitiz Power Corp. subsidiary Aboitiz Renewables Inc., Vivant Energy Corp. and Vena Energy signed an agreement to jointly develop the 206-megawatt San Isidro wind power project in San Isidro, Northern Samar.
The project is expected to reach financial close and start construction in the fourth quarter. Start of commercial operations is targeted in the first quarter of 2025.
“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,” ARI president and chief operating officer James Arnold Villaroman said.
Aboitiz Power is the holding company for the Aboitiz Group’s investments in power generation, distribution, and retail electricity services.
“This project is a significant boost in Aboitiz Power’s wind energy portfolio, contributing to a wellmanaged and just energy transition. We are eager to complete this project to help address the energy needs of the country,” said Aboitiz Power president and chief executive Emmanuel Rubio.
Vivant Energy is a wholly-owned subsidiary of publicly-listed Vivant Corp., the holding company for Vivant’s investments in power distribution and generation, retail electricity services and energy-related engineering solutions.
“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,” Vivant Energy president and chief operating officer Emil Andre 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. This partnership brings us closer to the goal to expand our RE portfolio to 30 percent by 2030,” said Garcia.
Vena Energy is a Singapore company which owns wind and solar power plants in the country. It has a portfolio exceeding 40 gigawatts of solar, onshore wind, offshore wind, energy storage and hybrid RE projects worldwide.