NextGen Day

MANILA – Aboitiz Power Corp.’s subsidiary, Aboitiz Renewables Inc. (ARI), announced on Thursday its collaboration with Singapore-based Vena Energy for a pioneering 102-megawatt wind power project spanning the provinces of Rizal and Laguna.

In a disclosure to the Philippine Stock Exchange, the renewable project is slated to achieve financial close next year, with commercial operations scheduled to commence by 2025.

“Through ARI, AboitizPower is taking decisive steps towards our long-term objective of growing our renewable energy capacity and striking a 50:50 balance between our renewable and thermal portfolios by 2030,” said ARI President and Chief Operating Officer James Arnold Villaroman.

AboitizPower President and Chief Executive Officer Emmanuel Rubio expressed that this partnership will contribute to the government’s energy transition goals while supporting economic growth.

Under the Philippine Energy Development Program, the government aims to increase the share of renewables in the energy mix to 35 percent by 2030 and 50 percent by 2040.

As of 2022, renewable energy accounted for nearly 23 percent of the country’s energy mix.

“We continue to serve the critical needs of the Philippine energy system. We are confident we can deliver this project for our country’s renewable energy requirements,” Rubio affirmed.

Samrinder Nehria, Vena Energy Philippines’ head of business, emphasized that partnering with ARI enables the company to strengthen its presence in the country’s renewable energy sector.

“We are confident that by combining our experience and on-the-ground capabilities, this project will significantly impact accelerating the energy transition in the Philippines,” Nehria added.

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