Araneta partners with Mainstream Renewables

Businessman Gregorio Araneta III has partnered with global renewables giant Mainstream Renewables to build a portfolio of wind and solar projects in the Philippines.

“It will be 1,000 to 2,000 megawatts,” Araneta told The

STAR last week. He said the partnership would develop wind and solar projects in sites across the country that have yet to be identified. “The partnership will do wind and solar,” he said.

Mainstream Renewables is an independent global developer of renewable energy with almost 10,000 megawatts in development and nearly 700 megawatts delivered into construction and commercial operation.

The company was founded in 2008 by Dr. Eddie O’Connor and Fintan Whelan following the sale of Airtricity, a global development and supply business established by O’ Connor to utility giants Scottish and Southern Energy.

Its core business is to develop, finance, construct and operate large scale, renewable energy projects in emerging markets.

It partners with companies and governments to deliver exceptional projects, on time, safely and on budget, meeting their national and corporate ambitions.

Araneta is into property development and has a portfolio of energy projects. He is also the chairman of PhilWeb, the listed gaming technology firm.

Araneta is building an 800-megawatt hydropower plant in Laguna.

The planned hydropower project, which will start with an initial capacity of 170 MW, is on top of another major energy project, his planned Energy City in Bataan.