Aboitiz Power Corporation, through its subsidiary, Aboitiz Renewables Inc (APRI) will be building a 90-megawatt (MW) onshore wind facility in Camarines Sur through a joint venture with Mainstream Renewable Power.
“This joint venture marks AboitizPower’s first foray into wind energy and underscores our aspiration to be a strong renewable energy partner,” Aboitiz Power president and CEO Emmanuel Rubio said in a disclosure to the Philippine Stock Exchange.
The project will be located in Libmanan, Camarines Sur. Aboitiz Power said that the project is expected to be a leading contributor to the country’s drive in increasing the utilization of indigenous energy sources like wind and solar.
Aboitiz Power has earlier partnered with Singapore-based Clime Capital Management and Rocky Mountain Institute (RMI) to explore the country’s potential in offshore wind energy.
AP is looking to build at least 3,700 MW of RE under its name as part of its 50:50 balanced energy portfolio of RE and thermal power by 2030,
“The Libmanan onshore wind project with Mainstream, along with future endeavors in the pipeline will help bring us to our goal,” Rubio said.
“The Philippines is one of our priority markets in the region and we are committed to working in partnership with AboitizPower to support the country’s ambitious and commendable target to cut its greenhouse gas emissions by 75% by 2030.” Mainstream CEO Mary Quaney said.
The Department of Energy (DOE) is set to increase RE utilization under the Renewable Portfolio Standards (RPS) from one percent to 2.52%