Vivant Corp. said Wednesday it formed a joint venture partnership with Vena Energy and Aboitiz Renewables Inc. that will develop, construct and operate a 206- megawatt wind power farm in San Isidro, a coastal town in Northern Samar.
The San Isidro wind farm is expected to reach financial closing and construction in the fourth quarter, with commercial operation scheduled to begin in the first quarter of 2025.
Aboitiz Renewable is a wholly-owned subsidiary of Aboitiz Power Corp., a long-time partner of Vivant in energy projects.
Vena energy is a leader in renewable energy development in the Asia Pacific region. It has an operational portfolio with a total capacity of 2.9 gigaWatts, with additional three projects with a combined capacity of 135MW commissioned in first half of this year.
Vena also has five projects under construction with a total capacity of 706 MW and 440 MW of newly contracted capacity across Philippines, Thailand, and Taiwan. It has a development pipeline of more than 200 projects with a combined capacity of 39 GW, with 20GW of them from offshore wind and 6GW energy storage capacity.
“We welcome this opportunity to partner with two leaders in renewable energy development which share our vision of helping the country attain energy security while promoting renewable energy and contributing to countrywide development,” said Emil Andre Garia, president and chief executive officer of Vivant. “This partnership brings us closer to the goal to expand our RE portfolio to 30 percent by 2030,” he added.
Aboitiz Renewable itself aims to expand its renewable energy capacity to 4,600 megaWatts and “is another momentous step in realizing our 10-year strategy of achieving a 50:50 balance in our renewable and thermal portfolios,” said Abotiz Renewable president and chief operating officer James Arnold Villaroman in a statement.
