Singapore-based renewables company Vena Energy and Vivant Energy Corp have signed a joint venture agreement with Aboitiz Renewables Inc (ARI), the renewables arm of Philippine power company Aboitiz Power Corp (PSE:AP), for a 206-MW onshore wind project in the Philippines.
The joint venture is aimed at the development, construction and operation of the San Isidro wind project, Vena Energy said on Thursday.
The wind farm will have 33 turbines of 6.25 MW each and will be situated in San Isidro, Northern Samar in the Visayas.
The project is nearing financial close and construction start, both slated for the fourth quarter of 2023. The wind farm is expected to be online in the first quarter of 2025.
“Vena Energy is excited to partner with Vivant Energy and welcome Aboitiz Renewables to the San Isidro Wind Project, which will become one of the largest onshore wind farms in the Philippines,” remarked Samrinder Nehria, Vena Energy’s country head in the Philippines.
ARI president and chief operating officer James Arnold Villaroman said the undertaking demonstrates ARI’s progress in growing its renewable energy capacity to 4,600 MW and achieving a 50:50 balance in its renewable and thermal portfolios by 2030.