APECO secures $25 million investment in renewable energy project with Singapore company

The Aurora Pacific Economic Zone and Freeport Authority (APECO) has entered into a $25 million investment agreement with Singapore’s renewable energy (RE) company to support environmentally friendly development in investment promotion agencies.

APECO and Pacific Impact Development Pte. Ltd. has finalized an agreement in Quezon City, kicking off the first phase of its RE project in the Aurora Ecozone.

In the initial phase, a photovoltaic farm with a capacity of 25 MW will be built, covering an area of ​​25 hectares. This power generation initiative will supply power to APECO locators and feed excess power into the grid.

APECO President and CEO Gil Taway IV expressed confidence in Pacific Impact’s investment, emphasizing its support for APECO’s current business trajectory and Casiguran’s potential in Aurora.

Taway emphasized that Pacific Impact’s investment in renewable energy development strengthens APECO’s position as a hub for clean energy projects.

Darwin Deato, head of Pacific Impact’s Philippines division, recognized the region’s renewable energy potential and reaffirmed the company’s commitment to sustainable development practices. He hailed the partnership with APECO as a step towards leveraging international expertise to maintain strong environmental, social and governance (ESG) standards.

In the next phase of the RE project, Pacific Impact plans to explore wind energy initiatives. The company has already secured a wind energy services contract with the Department of Energy for a project in Albay.

Pacific Impact also oversees various RE projects across the country, focusing primarily on utility-scale solar power projects and off-grid solar power projects in locations such as Batangas, Busuanga, Occidental Mindoro and Tawi-Tawi.

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