AboitizPower, JBIC sign energy transition cooperation agreement

AboitizPower and the public financial institution Japan Bank for International Cooperation signed a memorandum of understanding to reinforce collaboration to support the Philippine power industry’s development. The partnership will help ramp up AboitizPower’s renewable energy development.

In a statement, the Philippines-based energy firm said the partnership will support its efforts to reduce emissions, implement cutting-edge transition technologies including liquified natural gas, and boost its renewable energy development.

JBIC is supporting emerging and developed countries as part of its commitment to accelerating energy transition.

AboitizPower aims to have a 50% renewable energy share by 2030, equivalent to 4,600 megawatts.