Renewable Energy StoriesRenewable Energy Stories
  • Home
  • Solar News
    • Utility Scale
    • Rooftop Solar
    • Manufacturing
  • Other Renewables
    • Wind Energy
    • Biofuels
    • Hydro Power
    • Others
  • Storage
    • Lithium-Ion
    • Large Storage (100 kW+)
    • Small Storage
    • Battery Technology
  • Research
  • Finance
  • Events
  • Advertise
Facebook Twitter Instagram
India Edition | South East Asia Edition
Facebook Twitter LinkedIn
Renewable Energy StoriesRenewable Energy Stories
  • Home
  • Solar News
    • Utility Scale
    • Rooftop Solar
    • Manufacturing
  • Other Renewables
    • Wind Energy
    • Biofuels
    • Hydro Power
    • Others
  • Storage
    • Lithium-Ion
    • Large Storage (100 kW+)
    • Small Storage
    • Battery Technology
  • Research
  • Finance
  • Events
  • Advertise
Renewable Energy StoriesRenewable Energy Stories
Home » Mainstream, Aboitiz Power Make Joint Venture For 90 MW Wind Project in Philippines
Other Renewables

Mainstream, Aboitiz Power Make Joint Venture For 90 MW Wind Project in Philippines

By Saur News Bureau Sat, Oct 29th, 2022
Share
Facebook Twitter LinkedIn Pinterest Email

Global clean and renewable energy player Mainstream Renewable Power has announces the signing of a joint venture agreement with Aboitiz Power Corporation via its subsidiary Aboitiz Renewables to initially deliver the 90 MW Libmanan onshore wind project that is located in the Camarines Sur Province of Philippines.

Mainstream Renewable Power is a global renewable energy company majority-owned by Aker Horizons. Aboitiz Renewables is one of the Philippines’ leading providers of renewable energy.

As per the official statement of Mainstream, the joint venture, which harnesses the combination of Mainstream’s global renewables development expertise and AboitizPower’s local expertise and business network, will play a leading role in the Philippine Government’s drive to increase renewable generation in the country via the rapid expansion of its portfolio of wind and solar assets.

Aboitiz Power has a stated goal to grow its renewables portfolio to 4,600 MW by the end of the decade. Mainstream mentioned that it is contributing to its goal via Libmanan onshore wind project as well as a future development pipeline.

Mainstream said that the 90 MW Libmanan onshore wind project is expected to reach financial close in 2023 and achieve commercial operations in 2025.

Mary Quaney, Chief Executive Officer, Mainstream Renewable Power, said, “We are delighted to be entering this joint venture with AboitizPower to deliver our first wind farm in the Philippines. This is one of Mainstream’s priority markets in the region and we are committed to working in partnership with AboitizPower to support the Philippines’ ambitious target to cut its greenhouse gas emissions by 75 percent by 2030.”

Mainstream also said that the joint venture is being delivered through an investment agreement for ARI’s proposed acquisition of a 60 percent stake in the Libmanan onshore wind project, which the company has been developing since 2017 with its local partner.

The Philippines’ Dash for RE

Early this month, in a bid to draw more investors and end-users in renewable energy, the Department of Energy approved an increase in the yearly renewable portfolio standards from 1 percent to 2.5 percent.  The Philippine Government’s ambition is to generate 35 percent of all its electricity from renewables by 2030, and 50 percent by 2040.

The Philippines has undertaken Green Energy Option Program (GEOP), Renewable Portfolio Standard (RPS), and Green Energy Auction Program (GEAP) to achieve the clean energy targets.

90 MW Libmanan onshore wind project Aboitiz Power Corporation Aboitiz Renewables Camarines Sur Province Libmanan wind project Mainstream Renewable Power Mary Quaney onshore wind project RE renewable energy The Philippines wind energy in philippines
Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Saur News Bureau
  • Website

Related Posts

ACWA Power to Build $7.5 bn Worth Renewable Energy Projects & BESS in Uzbekistan

March 21, 2023

Trina Solar and Al-Raebi Ink 500 MW Agreement for Yemen Market

March 21, 2023

International Finance Corporation Invests in Jordan’s First Green Bond

March 14, 2023

Leave A Reply Cancel Reply

four × two =

Latest News
  • ACWA Power to Build $7.5 bn Worth Renewable Energy Projects & BESS in Uzbekistan
  • Trina Solar and Al-Raebi Ink 500 MW Agreement for Yemen Market
  • International Finance Corporation Invests in Jordan’s First Green Bond
  • SOFAR Presents Innovations for Decarbonization at Solar Pakistan 2023
  • UAE’s EWEC Report Wants 3 GW Solar Power Addition by 2030
Solar News

ACWA Power to Build $7.5 bn Worth Renewable Energy Projects & BESS in Uzbekistan

March 21, 2023

Trina Solar and Al-Raebi Ink 500 MW Agreement for Yemen Market

March 21, 2023

International Finance Corporation Invests in Jordan’s First Green Bond

March 14, 2023

SOFAR Presents Innovations for Decarbonization at Solar Pakistan 2023

March 14, 2023
ADVERTISE WITH US

We are the no.1 B2B solar media in India. With SaurEnergy, you have a full menu of options to pick from to reach the largest audience for your products and services.

To get in touch, contact us at info[at]saurenergy.com

Or Call at 9891147599 / 8802315631

Facebook Twitter Instagram YouTube LinkedIn WhatsApp
Latest News
  • ACWA Power to Build $7.5 bn Worth Renewable Energy Projects & BESS in Uzbekistan
  • Trina Solar and Al-Raebi Ink 500 MW Agreement for Yemen Market
  • International Finance Corporation Invests in Jordan’s First Green Bond
  • SOFAR Presents Innovations for Decarbonization at Solar Pakistan 2023
  • UAE’s EWEC Report Wants 3 GW Solar Power Addition by 2030
SAURENERGY NEWSLETTER

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

    [mc4wp_checkbox]

    © 2023 Saurenergy International.

    Type above and press Enter to search. Press Esc to cancel.

    en English
    ar العربيةzh-CN 简体中文en English
    Newsletter Subscription

      [mc4wp_checkbox]