(L-R) AboitizPower President and CEO Manny Rubio, Ormat Systems Ltd. Sales and Business Development Director Nissan Yamin, and Desco President Sherwin Mendiola sign the MOA. (Source: Aboitiz Power)
Aboitiz Power Corporation subsidiary, AP Renewables Inc. (APRI), has signed engineering, procurement, and construction (EPC) agreements for its 17-megawatt binary geothermal power plant.
The EPC contracts were awarded to Ormat Technologies, Inc., and Desco, Inc. The project will be developed in Tiwi, Albay province in the Philippines.
"We are glad to move this project forward with partners we already know and trust. This collaboration will reinforce our commitment to providing much-needed Cleanergy to the grid," APRI President and Chief Operating Officer (COO) Jeffrey Estrella said.
This is expected to expand the company’s Cleanergy portfolio. Cleanergy is Aboitiz Power’s renewable energy solutions brand.
The APRI and its partners plan to break ground in the first quarter of 2023. The plant will utilise excess heat from spent brine at the Tiwi geothermal facility.
AboitizPower is planning to spend around P190b over the next decade for an additional 3,700MW of renewable energy, growing its capacities to 4,600 MW by 2030.
The company has around 1,000MW of disclosed RE projects and is on its way toward its targets.
