Aboitiz Power Corp. is teaming up with Singapore-based Vena Energy and Cebu-based Vivant Energy Corp. to put up a 206-megawatt (MW) wind power project in the Visayas.
The joint venture, called Lihangin Wind Energy Corp., has signed an agreement to construct, and operate the San Isidro wind power project in San Isidro, Northern Samar.
AboitizPower said the San Isidro wind power project is targeted to reach financial close and start construction by the fourth quarter.
The joint venture expects to start commercial operations of the project by the first quarter of 2025.
AboitizPower president and chief executive officer Emmanuel Rubio said the wind project would be a significant boost to the company's wind energy portfolio, which will contribute to a well managed and just energy transition.
'We are eager to complete this project to help address the energy needs of the country,' Rubio said.
AboitizPower will undertake the project through its renewable energy arm Aboitiz Renewables Inc. (ARI).
'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 COO James Arnold Villaroman said.
'We are very excited for these opportunities to contribute to the country's energy transition journey,' he said.
Vivant Energy holds investments in energy generation, retail electricity supply and energy-related engineering solutions in Luzon, Visayas, and Mindanao.
The partnership brings Vivant Energy closer to its goal of expanding its renewable energy portfolio to 30 percent by 2030.
Vena Energy, on the other hand, is a renewable energy company in the Asia-Pacific region that owns, develops, operates, and commercializes a renewable energy portfolio totaling 18 gigawatts of solar, onshore wind, offshore wind, battery energy storage, and hybrid renewable energy projects.
The company is committed to engaging with local communities throughout the lifecycle of its portfolio projects, as well as incorporating internationally recognized environmental, social and governance standards into its strategy and business practices.
'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 COO Emil Andre Garcia said.
'We are privileged to have gained the trust of Vena Energy, a leader in renewable energy in the Asia Pacific region. We're glad that our long-time partnership with AboitizPower has become stronger and has expanded to the renewable energy space,' he said.