EconomyEditor's PickPAVI Green maps renewables capacity expansion  

January 8, 2023

PAVI Green Renewable, Inc. said it is ramping up the expansion of its renewable energy portfolio after the Department of Energy’s push for more renewables.

“Currently, we have several projects. We also have commercial rooftop operations alongside these projects, which form part of our continuously expanding renewable energy portfolio,” Robert Marlon T. Pereja, chief operating officer of PAVI Green, said in a Viber message.

Mr. Pereja said the renewable energy firm is recalibrating its investment decision and pushing to expand its renewables capacity as the Energy department aims to boost energy security.

At present, the company’s solar projects include 20 megawatts (MW) in Bataan, 26 MW in Camarines Norte, which is scalable up to 75 MW, and 50 MW in Naga City, Camarines Sur.

PAVI Green is a subsidiary of Prime Asset Ventures, Inc. It targets developing about 1,000 MW or 1-gigawatt capacity in the next five years.

Mr. Pereja said that the entry of more renewables is necessary as they are considered cheaper compared to coal, which accounts for more than half or 57.5% of the country’s power generation mix.

Mr. Pereja added that the government should continue giving incentives to renewable energy developers for them to continue to flourish and meet the country’s growing energy demand. — A.E.O. Jose

Leave a Reply

Your email address will not be published. Required fields are marked *

Disclaimer: SmartPeopleMail.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2023 SmartPeopleMail. All Rights Reserved.

IT'S YOUR OPPORTUNITY OF THE YEAR!
Subscribe for FREE today and get your daily shot of smart news about the Economy and Investing.
We are dedicated to keeping any data we collect from you — safe and secure. Here you can read our privacy policy.