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Manila Bulletin devider Business devider Aboitiz takes full control of Libmanan wind project

Aboitiz takes full control of Libmanan wind project

Published Jan 15, 2025 11:50 pm

Aboitiz Power Corporation's renewable energy unit, Aboitiz Renewables Inc. (ARI), announced it will move forward with the development of the Libmanan onshore wind project in Camarines Sur.

In a statement, ARI said it has taken over the shares of its former partner, Mainstream Renewable Power Philippines Holdings B.V. (MRP), in Cornerstone Energy Development, Inc. (CEDI). This acquisition gives ARI full control of the 90-megawatt (MW) wind project.

In 2022, the two firms signed an agreement to jointly develop the facility. However, ARI recently reached a new agreement to acquire MRP’s shares in CEDI.

ARI will now oversee the development, construction, and operation of the Libmanan wind project through CEDI. The commercial operation date has yet to be announced.

Last month, ARI commissioned the 173-megawatt peak (MWp) Calatrava Solar Project in Negros Occidental, its largest solar project to date. This is the company's fifth solar facility and Aboitiz Power's largest solar generation project.

The facility was connected to the Calatrava substation with support from the National Grid Corporation of the Philippines (NGCP).

This increased Aboitiz Power’s total energized capacity to 512 MW.

ARI currently operates two other renewable energy facilities in Tiwi, Albay and in Batangas, including areas of Bay and Calauan, Laguna, and Sto. Tomas.

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