The Villar group has primed an initial salvo of solar farm projects as it dives deeper into the burgeoning renewable energy-based power generation market.
PAVI Green Renewable Energy Inc., a subsidiary of Prime Asset Ventures, Inc. (PAVI), is preparing to take on utility-scale projects to bolster its play as a builder of solar rooftop systems.
PAVI’s newest venture, PAVI Green is intended to be “one of the premier providers” of clean energy to homes and businesses across the Philippines, not just in solar photovoltaic, but also in wind and hydro.
Kitto Jacinto, who leads business development at PAVI Green, said in an interview the company started with projects in islands such as Siquijor and now the Camotes group, both off Cebu. “To balance our portfolio and address sustainability, we have ventured into rooftop solar projects in various areas of Metro Manila, Cavite, Laguna, Iloilo, Bacolod and Central Luzon,” Jacinto told the Inquirer.
In 2014, PAVI won a bid to provide electricity supply to Siquijor Island, which affiliate S.I. Power Corp. delivered through a 6-megawatt diesel-fired power complex.
Retail electricity supplier
The Villar group also has a wholly owned subsidiary named Kratos RES Inc., which the Energy Regulatory Commission accredited as a retail electricity supplier (RES). A RES is an entity that provides energy in market segments where consumers are enabled to source power from sources other than the existing distribution utility in their area.
“Our drive for sustainability has since grown, as we set our sights into solar farms starting [with] a minimum capacity of 200 MW to supply to the grid, as our first salvo,” Jacinto said.
“Using top-tier materials with more efficient solar panels, high capacity string inverters and smart monitoring technologies, we envision our solar farms to be located in various areas of Luzon to reduce carbon emissions by approximately 200 million metric tons,” he added. He said the PAVI group’s expertise in raw land acquisition would help fast-track their solar projects toward their target launches within this year.
“Some PAVI Green solar plants across the nation are already in the predevelopment stage, namely in Naga, San Vicente, Bataan and Sagay,” Jacinto said.
PAVI Green is also looking at various opportunities in wind and hydro through joint ventures and partnerships in an effort to expand its renewable energy portfolio up to “four or five times in the coming years.” INQ