Aboitiz Renewables, Inc. Renewable Energy Partnerships

Aboitiz Renewables, Vena Energy enter into JV for 102 MW Rizal-Laguna Wind Power Project

October 23, 2023

Aboitiz Renewables, Inc. (ARI), the renewable energy subsidiary of Aboitiz Power Corporation (AboitizPower), signed a joint venture agreement with Singapore-based company, Vena Energy, to invest in the latter’s greenfield 102-megawatt (MW) wind power project in Rizal and Laguna.

The wind power project is expected to reach financial close and commercial operations in 2024 and 2025, respectively.

“We are thrilled to partner with Vena Energy, given our shared ambition of growing the Philippine renewable energy generation portfolio in the coming years. Through ARI, AboitizPower is taking decisive steps towards our long-term objective of growing our renewable energy capacity and striking a 50:50 balance between our renewable and thermal portfolios by 2030,” said ARI President and Chief Operating Officer James Arnold Villaroman.

AboitizPower President and Chief Executive Officer Emmanuel Rubio added that this joint venture builds on the company’s foothold in wind energy.

“This underscores our aspiration to be a significant contributor to a well-managed and just energy transition that will fuel the economic progress of the country. We continue to serve the critical needs of the Philippine energy system. We are confident we are able to deliver this project for our country’s renewable energy requirements,” he shared.

“We are excited to have AboitizPower as a strategic partner as Vena Energy continues to develop, construct, operate, and grow its renewable energy portfolio in the country. We are confident that by combining our experience and on-the-ground capabilities, this project will make a significant impact in accelerating the energy transition in the Philippines.” said Samrinder Nehria, Vena Energy Head of Business in the Philippines.