Villar RE firm to invest P40 billion to expand capacity
By Danessa Rivera – March 24, 2022 | 12:00am
from The Philippine Star
MANILA, Philippines — PAVI Green Renewable Energy Inc. of the Villar group is eyeing to invest P40 billion to build 1,000 megawatts of capacity in three to five years.
PAVI Green is a subsidiary of Prime Asset Ventures Inc. (PAVI), the holding company of the group of businessman Manuel Villar.
“We intend to be at the forefront of the renewable energy industry in the years to come,” PAVI Green chief operating officer Robert Pereja said.
PAVI Green is initially looking to complete its first solar utility plant by the end of the year.
“We are completing the 20-megawatt peak (MWp) Orion, Bataan solar project by the end of 2022. The output shall be supplied to our Retail Electricity Supply (RES) company, Kratos RES Inc.,” Pereja said.
The Villar group incorporated Kratos RES in 2011 to primarily serve as a RES unit.
Next year, the company is looking to complete at least 100 MW of solar projects online.
“We have a 36-MWp project in San Vicente, Camarines Norte and a 50-MWp project in Naga, Camarines Sur,” Pereja said.
Apart from solar, PAVI Green is also looking at opportunities in hydropower and wind.
“True to our name, we are not just a solar company but a renewable energy company,” Pereja said.
“We’re also looking at expanding our green portfolio in the coming years as we also seek more opportunities in wind and hydropower. We are here to stay to ensure that our built assets will serve their purpose to supply clean energy to communities today and for future generations,” he said.
The Villar group made its foray in the power sector when it won the bid to supply electricity to Siquijor Island through PAVI Green. It has then moved to solar rooftop development before going large scale.
It is now looking to list PAVI Green In the latter part of the year.
“Environmental responsibility has always been a passion of the group. It has always been at the heart of our operations since we started. It has always been our main thrust and as such, we look forward to a future geared towards building sustainable and resilient communities,” Pereja said.
“We believe that contributing to the RE capacity of the Philippines is a major contribution to nation-building, and in mitigating the effects of climate change. It is a direction founded on the principles and values of the Villar group and we intend to be at the forefront of this industry,” he said.
