MANILA - Aboitiz Power Corp said on Monday it signed a memorandum of understanding with several Japanese firms for a consortium that would explore the development of technology and system for potential projects in the renewable energy space.
On Feb. 10, AboitizPower Chairman signed the MOU with Kawasaki Heavy Industries Ltd Senior Managing Executive Officer and President of Energy Solution and Marine Engineering Tatsuya Watanabe, IKS Co Ltd President Takashi Imai and Amber Kinetics CEO Edgar Chua, the company told the stock exchange.
Under the MOU, the firms will leverage their new-generation technologies and expertise to optimize renewable energy development in the Philippines which could lead to further exploration and expansion to ASEAN, Japan and Australia, the statement said.
"With this consortium, the Philippines and Japan can make a significant impact on our transition towards a more sustainable future," Aboitiz said.
The MOU will provide a platform for the consortium to work together with their proprietary technologies in projects that could potentially transform the renewable energy landscape and drive sustainable growth in the Philippines, AboitizPower said.