APECO Secures USD25 Million Investment For Renewable Energy Project With Singaporean Firm

The Aurora Pacific Economic Zone and Freeport Authority (APECO) has entered into a USD25-million investment agreement with a Singapore-based renewable energy (RE) company, aiming to advance environmentally-friendly development within investment promotion agencies.

APECO and Pacific Impact Development Pte. Ltd. finalized the agreement in Quezon City, marking the commencement of the first phase of the RE project within the Aurora ecozone.

During the initial phase, a 25-megawatt solar power farm will be developed, spanning 25 hectares of land. This power generation initiative will supply energy to APECO locators and contribute surplus energy to the grid.

APECO President and Chief Executive Officer Gil Taway IV expressed confidence in Pacific Impact’s investment, highlighting its endorsement of APECO’s current business trajectory and the potential of Casiguran, Aurora.

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

Darwin Deato, Pacific Impact Philippines country head, acknowledged the region’s renewable energy potential and affirmed the company’s commitment to sustainable development practices. He noted the partnership with APECO as a step toward leveraging international expertise to uphold robust Environmental, Social, and Governance (ESG) standards.

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

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