Philippines Takes a Step Towards Energy Transition with New Wind Power Project
Aboitiz Renewables Inc. (ARI), the renewable energy division of Aboitiz Power Corporation, has signed a joint venture agreement with Singapore-based Vena Energy and Cebu-based Vivant Energy Corporation to develop a 206-megawatt (MW) wind power project in San Isidro, Northern Samar.
The three partners will form a new company called Lihangin Wind Energy Corp. to develop, construct, and operate the wind power project. The construction phase is expected to commence in the fourth quarter of 2023, with commercial operations targeted for the first quarter of 2025.
The San Isidro Wind Power Project is a significant boost to the country's wind energy assets and will help to support the government's goal to incorporate renewables substantially into the energy matrix by 2030.
James Arnold Villaroman, ARI president and chief operating officer, expressed excitement about the partnership with Vena Energy and Vivant Energy to develop the significant wind power project. He emphasized that the project serves as a testament to their commitment to expanding their renewable energy capacity and supporting the Philippines in achieving its energy transition goals.
Ng Eng Cheong, CEO of Vena Energy, shared his sentiments, saying, "We are delighted to partner with Aboitiz Renewables and Vivant Energy on this thrilling venture. The San Isidro Wind Power Project stands as a noteworthy augmentation to our assortment of renewable energy in the Philippines, and we are unwavering in our commitment to collaborating with our associates to ensure its triumph.”
The San Isidro Wind Power Project will propel Vivant Energy closer to its target of achieving a 30% share of renewable energy in its portfolio by the year 2030.