Prime Asset Ventures Inc., the investment holding company of Manuel Paolo Villar, the eldest son of billionaire Manuel Villar, said Friday it aims to be a key player in the infrastructure and public utility sector.
PAVI recently added Premiere Island Power REIT Corp. to its list of subsidiaries to strengthen its energy assets.
The company’s diversified portfolio comprises of critical community infrastructure in sectors such as water, power generation and supply, retail electricity, renewable energy, information and communications technology, broadcast entertainment, gaming and realty.
“PAVI aspires to continuously diversify our portfolio to achieve our objectives of becoming a key player in the infrastructure and public utility sector. We are also focused on ensuring returns to our stakeholders and, at the same time, finding a way to implement these initiatives in a way that contributes meaningfully to nation-building and capacity-building,” said PAVI head of infrastructure and project lawyer TJ Mendoza.
PremiereREIT works to be among the leading diversified power and infrastructure REITs in the Philippines in terms of portfolio, profitability, growth, sustainability and dividend yield.
A real estate investment trust company, it will handle PAVI’s power generation assets to strengthen its performance and continue to grow.
PAVI’s diverse energy portfolio includes traditional and renewable power generation, retail electricity supply and missionary electrification.
PAVI’s subsidiaries S.I. Power Corp. and Camotes Island Power Corp. provide electricity to almost 60,000 households in underserved off-grid areas in Siquijor Island and Camotes Island in the Visayas.
Kratos RES is engaged in the retail supply of electricity to contestable customers who are qualified to choose their power suppliers. It supplies electricity to malls, complexes and offices nationwide.
PAVI’s renewable energy arm, PAVI Green Renewable Energy Inc,., is set to achieve up to 1,000 megawatts within the next three to five years to solidify the group’s commitment to providing clean and sustainable energy.
PAVI Green recently won a bid at the Department of Energy’s Green Energy Auction Program to supply 40.4 MW of clean energy to the Luzon grid by 2023.
The company is also working on three large-scale solar projects, including a 20-MW facility in Bataan, which will be completed this year, a 26-MW farm scalable to 75 MW in Camarines Norte and a 50-MW project scalable to 75 MW in Naga.
PremiereREIT said it would venture into these best-performing asset classes, ensuring investments with continued capital appreciation and social accountability.
