Aboitiz Renewables, Vena Energy form JV for wind project in the Philippines
The project is expected to start operations in 2025.
Aboitiz Power’s subsidiary Abiotiz Renewables Inc. (ARI) entered a joint venture agreement with Vena Energy for the Singapore-based firm’s 102 megawatts wind power project in the provinces of Rizal and Laguna in the Philippines.
In a statement, AboitizPower said the project is expected to reach a financial close in 2023 and start commercial operations in 2025.
ARI President and COO James Arnold Villaroman said that through the project, the company will help AboitizPower's goal to achieve a balance in its renewable and thermal portfolios by 2030.
“This underscores our aspiration to be a significant contributor to a well-managed and just energy transition that will fuel the economic progress of the country. We continue to serve the critical needs of the Philippine energy system. We are confident we are able to deliver this project for our country’s renewable energy requirements,” said AbiotizPower President and CEO Emmanuel Rubio.