Mainstream Renewable Energy awarded improvement rights for 440 MW of onshore wind within the Philippines

11 March, 2024 – Mainstream Renewable Energy (“Mainstream”), the worldwide pure-play renewable vitality firm, has signed two Wind Power Service Contracts (“WESCs”) with the Division of Power (“DOE”) within the Philippines for the event rights for 2 onshore wind farms with a mixed capability of 440 MW. The contracts signify Mainstream’s first fully-owned WESCs within the Philippines and it is likely one of the first 100% foreign-owned corporations to safe the contracts.

The contracts present Mainstream with unique improvement rights for 2 onshore wind initiatives; the 100 MW Santa Ana Cagayan Wind Mission situated within the Municipality of Santa Ana, Cagayan Province and the 340 MW Panaon Wind Mission situated on Panaon Island within the Leyte Province. The initiatives, which have already commenced early-stage improvement actions, are roughly 500 km from the capital metropolis, Manila.

Power Secretary Raphael P.M. Lotilla on the Division of Power stated “With the Philippine financial system now thriving, marked by good progress and optimistic forecasts, we’re happy with the constructive response of international and native traders to pour in capital in our nation’s renewable vitality sources. Mainstream will probably be bringing in monetary muscle and technological heft to work with our world-class employees all through the development and operational phases of all these initiatives, which implies extra employment for our folks and livelihood alternatives in these areas.”

Commenting on the signing of the contracts in Manila, Eduardo Karlin, Mainstream’s Common Supervisor for APAC stated “The award of those contracts represents an necessary milestone for Mainstream as we proceed to develop our improvement footprint throughout the Philippines.  We’re dedicated to the Philippine market and are well-placed to be a part of the nation’s vitality transition and help the federal government in reaching their targets of 35% renewable vitality by 2030 and 50% by 2040.”

Mainstream has developed robust hyperlinks with the Norwegian Embassy within the Philippines by way of its majority shareholder Aker Horizons.  The Norwegian Ambassador to the Philippines Christian Halaas Lyster stated on the signing: “We’re happy to see Mainstream benefiting from the DOE’s efforts in creating conducive circumstances for renewable vitality improvement within the Philippines. Norway stays a dedicated accomplice to the Philippines in its shift to renewable vitality.”

Mainstream has been operational within the Philippines since 2017. Along with its three way partnership accomplice, Aboitiz Energy Company (AboitizPower), by way of its subsidiary Aboitiz Renewables Inc. (ARI), it plans to start out building on the 58.5 MW Camarines Sur wind farm in 2024.  The mission has secured an offtake contract by way of the Inexperienced Power Public sale Programme in 2023.  Mainstream will proceed to broaden its portfolio within the Philippines by way of future service contracts.