Razon's Primelectric taps Saudi's ACWA Power for Visayas, Palawan clean energy
Primelectric Holdings President Roel Z. Castro and ACWA Power Chief Investment and Development Officer Thomas Brostrom recently formalized a strategic partnership, signing a joint study agreement to explore renewable energy opportunities.
Razon-led Primelectric Holdings, Inc. has partnered with Saudi Arabian firm ACWA Power Co. to explore renewable energy (RE) and energy storage opportunities in Western Visayas and Palawan.
In a statement on Monday, July 7, Primelectric announced that it signed a joint study agreement with font-family: Gilroy; display: inline !important;>ACWA Power to evaluate viable energy generation options for certain areas in the region, specifically Negros, Panay, and Palawan.
This partnership aims to optimize power costs while maximizing clean energy and storage technologies, font-family: Gilroy; display: inline !important;>Primelectric said.
According to Primelectric, both companies may develop and push through investment phases, such as large-scale RE and energy storage installations, into the Visayan energy mix.
Roel Z. Castro, Primelectric president, said that this collaboration is timely as Visayas is in demand of resilient, reliable power sources, stating that “Through this collaboration, we aim to explore projects that will stabilize power supply and harness the abundant renewable resources of the Visayas and Palawan.”
”Our joint effort is a testament to our commitment to secure a clean, stable, and affordable power future for the islands we serve,” he added.
Thomas Brostrom, ACWA Power chief investment and development officer, shared the benefits of their partnership with the Razon-led energy firm.
”By bringing together ACWA Power’s global expertise and Primelectric’s deep understanding of the local market, we are not only fast-tracking the rollout of clean energy projects in this part of the Philippines but also driving technology transfer, and contributing to long-term economic growth and community development,” he said.
”This partnership reflects our shared commitment to building a more sustainable and resilient future for the region.”