Aboitiz Renewables Inc., the renewable energy subsidiary of Aboitiz Power Corp., said Thursday it signed a joint venture agreement to invest in Singapore-based Vena Energy’s greenfield 102-megaWatt wind farm in Rizal and Laguna.
The Vena Energy wind power project is expected to reach financial close and commercial operations in 2024 and 2025, respectively.
“We are thrilled to partner with Vena Energy, given our shared ambition of growing the Philippine renewable energy generation portfolio in the coming years. 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 added that this joint venture builds on the company’s foothold in wind energy.
“We are confident we are able to deliver this project for our country’s renewable energy requirements,” he said.
Aboitiz power unit in wind farm joint venture deal
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