Cebu-based Aboitiz Power Corp. and the Garcia family’s Vivant Energy Corp. have inked a strategic joint venture agreement with Singaporean firm Vena Energy to forge ahead with the ambitious 206-megawatt (MW) San Isidro wind power project in San Isidro, Northern Samar.
The project is expected to reach financial close and kick off construction in the fourth quarter of the year. 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. 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 COO James Arnold Villaroman.
AboitizPower president and CEO Emmanuel Rubio said the wind project is a significant boost in the company’s wind energy portfolio.
Emil Andre Garcia, president and COO of Vivant Energy, welcomes the partnership 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 Garcia.