ABOITIZ Power Corp. and Mainstream Renewable Power are planning to build a 90-megawatt (MW) onshore wind project in Libmanan, Camarines Sur. READ:
In a media release, AboitizPower, through its subsidiary Aboitiz Renewables, Inc. , signed a joint venture agreement with Mainstream for the development of the wind project in the Bicol Region.
AboitizPower is targeting to grow its portfolio to 4,600 MW of sustainably sourced energy by 2030. To date, the power company said it owns, together with its partners, a total net sellable capacity of 1,248 MW. “This is the beginning of an exciting new era for AboitizPower and [Aboitiz Renewables], as we take a key step towards our 10-year strategy of growing our renewable energy capacity and striking a 50:50 balance between our renewable and thermal portfolios,” said James Arnold D. Villaroman, Aboitiz Renewables’ president and chief executive officer.
Under the Philippine Energy Plan, the country is targeting to increase renewable energy in its energy mix to 35% by 2030, and 50% by 2040.
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