As of June 2022, 998 renewable energy (RE) contracts of PHP270.8 billion had been awarded,…
PAVI plans to use 1,000 MW of renewable energy in the next three to five years.
To demonstrate its dedication to supplying clean and sustainable energy, Prime Asset Ventures, Inc. (PAVI), through its renewable energy business PAVI Green, plans to reach up to 1000MW during the next three to five years.
As a result of recently including PremiereREIT (a real estate investment trust) among its list of subsidiaries, PAVI has reinforced its energy assets.
“PAVI strives to continually diversify our holdings in order to realize our goals of dominating the infrastructure and public utility sectors. According to Atty. TJ Mendoza, head of infrastructure and projects at PAVI, “We are also focused on assuring returns to our stakeholders and finding a method to implement these programs in a way that contributes significantly to nation-building and capacity-building.
PAVI is a renowned investment holdings company with a diversified portfolio that includes vital public infrastructure in industries like water, electricity generation and distribution, retail electricity, renewable energy, information and communications technology, broadcast entertainment, gaming, and real estate.
In terms of portfolio, profitability, growth, sustainability, and dividend yield, PremiereREIT aspires to rank among the top diversified power and infrastructure REITs in the Philippines. It will manage the company’s high-performing power generation assets as a real estate investment trust company to boost performance and foster growth.
PAVI’s varied energy business includes missionary electrification, retail electricity supply, and traditional and renewable power generation.
Almost 60,000 homes in underserved off-grid areas of Siquijor Island and Camotes Island in the Visayas region receive 100 percent energy from its subsidiaries S.I. Power Corporation (SIPCOR) and Camotes Island Power Corporation (CAMPCOR), respectively.
Kratos RES, on the other hand, is involved in the retail distribution supply of energy to contestable consumers who have qualified under current retail competition standards for the power business. These customers can choose their power producers or power sources. Currently, it provides electricity for workplaces, buildings, and shopping centers all around the country.
To provide 40.4MW of sustainable energy to the Luzon grid by 2023, PAVI Green just won a bid at the Department of Energy’s Green Energy Auction Program (GEAP).
The company is also working on three large-scale solar projects: a 20 MW project in Bataan that will be finished this year; a 26 MW project in Camarines Norte that can be scaled up to 75 MW; and a 50 MW project in Naga that can be scaled up to 75 MW.
PremiereREIT will make investments in these top-performing asset classes for the business, assuring both continuous capital growth and social responsibility.
The sponsors are leasing and using the sponsors’ primary power plant assets, land, land rights, and other ancillary infrastructure as part of PremiereREIT’s present property portfolio for their power production operations. The properties’ weighted average lease expiration is 9.24 years, and their combined producing capacity is 21.27 MW.
Cebuano English Filipino
We appreciate your reading. You may also consider sharing it with others.
Please comment below if you found this post interesting.
Be one of our DONOR / SPONSOR to support NextGenDay news website.