Villar-led PAVI Green Renewable Energy Inc. is looking to kickstart commercial operations of at least three utility-scale solar farms next year to help augment power supply in Luzon, especially during the summer months.
In a report by the Manila Bulletin, PAVI Green Robert Marlon Pereja said that the company’s 20-megawatt (MW) solar farm project in Orion, Bataan is scheduled to come online by the first quarter of 2023.
PAVI Green said that the Bataan project had been committed via an off-take agreement with affiliate company Kratos RES Inc., the retail electricity supplier (RES) of the Villar Group.
Meanwhile, the 36 MW San Vicente solar project in Camarines Norte and the 50 MW Naga Solar farm in Camarines Sur are looking to be commissioned in the later part of 2023.
The Naga solar farm is among the projects that won the first round of the green energy auction program (GEAP) of the Department of Energy (DOE). It has secured a 20-year power supply agreement (PSA) under the GEAP.
Around $85.86 (around Php 4.7 billion) was injected into the three renewable energy projects.
Upon completing the three projects, PAVI Green will continue ramping up its renewable energy capacity to 1,000 MW in the next five years.
Capital spending for its future projects will come from the proceeds from the listing of Prime Asset Ventures Inc., a real estate investment trust (REIT) affiliate company.