Mainstream Renewable Power has joined hands with Aboitiz Power Corporation to deliver the 90MW onshore wind project.
Mainstream Renewable will work under its subsidiary Aboitiz Renewables (AR). It has been developing since 2017 with its local partner.
The 90MW Libmanan onshore wind project is located in the Camarines Sur province.
According to the companies, the project will be delivered through an investment agreement for AR’s proposed acquisition of a 60% stake.
The partnership will utilize Mainstream’s global renewables development expertise and AboitizPower’s local business network. The project is expected to help boost the government’s aim to grow renewable generation in the country.
AboitizPower has a target to grow its renewables portfolio to 4600MW by the end of 2030.
Chief executive of Mainstream Renewable Power Mary Quaney was quoted, "We are delighted to be entering this joint venture with AboitizPower to deliver our first wind farm in the Philippines. “We are committed to working in partnership with AboitizPower to support the Philippines’ ambitious target to cut its greenhouse gas emissions by 75% by 2030."
Meanwhile, Chief executive of AboitizPower Emmanuel V Rubio remarked, "This joint venture marks AboitizPower’s first foray into wind energy and underscores our aspiration to be a strong renewable energy partner.
The wind project is likely to achieve commercial operations in 2025.
