Aboitiz Renewables, Inc. (ARI), Aboitiz Power Corporation’s (AboitizPower) renewable energy arm, signed a joint venture agreement recently with Vena Energy and Vivant Energy Corporation (Vivant Energy) to develop, construct, and operate the 206-megawatt (MW) San Isidro Wind Power Project in San Isidro, Northern Samar, Visayas.
The San Isidro Wind Power Project is expected to reach financial close and start construction in Q4 2023. Start of commercial operations is targeted in Q1 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. 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.
“This project is a significant boost in AboitizPower’s wind energy portfolio, contributing to a well-managed and just energy transition. We are eager to complete this project to help address the energy needs of the country,” added AboitizPower President and Chief Executive Officer Emmanuel Rubio.
“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. 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% by 2030,” said Emil Andre Garcia, President and COO of Vivant Energy Corporation.
DISCLAIMER: This disclosure may contain forward-looking statements that are subject to risk factors and
opportunities that may affect the implementation of the project subject of this disclosure. The forward-looking statements contained in this disclosure are based upon what management of the Company believes are reasonable assumptions at the date of this disclosure. There can be no assurance that forward- looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
