PAVI Green Renewable Energy, Inc. – the renewable energy (RE) arm of former Senate President Manny Villar’s business empire – is investing around Php40 billion to help build a 1,000megawatt (MW) portfolio in three to five years.
The company is looking to complete its 20 megawatt-peak (MWp) solar project in Orion, Bataan, by the end of the year, which will be connected to its Retail Electricity Supply (RES) company, Kratos RES, Inc., PAVI COO Robert Pereja said.
PAVI Green is also targeting to complete at least 100MW worth of solar projects by next year, which includes a 36MWp plant in San Vicente, Camarines Norte and a 50MWp project in Naga City.
PAVI Green is also targeting to expand to hydropower and wind power projects, Pereja said.
The Villar Group entered the power generation industry when PAVI Green won a bid to supply electricity in Siquijor.
The conglomerate is also looking to list PAVI Green in the Philippine Stock Exchange by the end of the year.
PAVI Green is a unit of Prime Asset Ventures, Inc. (PAVI), Villar’s holding firm.