AboitizPower, JBIC ink deal for energy transition cooperation

The partnership will help ramp up AboitizPower’s renewable energy development.

AboitizPower and the public financial institution Japan Bank for International Cooperation signed a memorandum of understanding to reinforce collaboration to support the Philippine power industry’s development.

In a statement, the Philippines-based energy firm said the partnership will support its efforts to reduce emissions, implement cutting-edge transition technologies including liquified natural gas, and boost its renewable energy development.

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JBIC is supporting emerging and developed countries as part of its commitment to accelerating energy transition.

AboitizPower aims to have a 50% renewable energy share by 2030, equivalent to 4,600 megawatts.