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Aboitiz Power sees at least new 400-MW capacity by end-2026

Aboitiz Power sees at least new 400-MW capacity by end-2026

Provided by Philippine Daily Inquirer.

Aboitiz Power sees at least new 400-MW capacity by end-2026



MANILA, Philippines - Aboitiz Power Corp. is accelerating its goal of hitting 9.2 gigawatts (GW) of capacity by 2030, with more projects poised for completion by the latter part of next year, an official said.

Danel Aboitiz, the company’s president and chief executive officer, said Monday that Aboitiz Power has already started construction works for seven energy facilities, including one additional unit of coal.

The group did not disclose the specifics of the coal project.

READ: AboitizPower earmarks P78B for expansion this year       

But it said the developments under construction are the following: the 212-megawatt (MW) Olongapo solar, 89-MW San Manuel Solar, 20-MW Bay battery energy storage system (BESS), 8-MW Magat BESS, 58.5-MW Camarines Sur Wind farm, and 20-MW Binga BESS.

Aligned with the government’s target of boosting the renewables market, the official said Aboitiz Power had been expanding its clean energy portfolio.

Currently, the company has 5 GW of capacity, 1.8 GW of which are from renewable energy sources.

“And this is expected to increase further in the future,” he said during the company’s annual stockholders’ meeting.

Aboitiz said the group’s capital investment spent last year reached P26.6 billion, with the bulk used to finance its renewables expansion.

However, the amount was significantly lower than the earmarked P73 billion as the firm encountered “right-of-way issues, permits, and land acquisition challenges.”

For 2025, Aboitiz Power is setting aside P78.1 billion.

“The biggest portion is still allocated for our renewable energy pipeline. The remainder will fund the maintenance of our baseload plants and further investments in land, new substations, and metering for our distribution business,” he said.

The executive also reiterated Aboitiz Power’s plan to join the bidding for the 796.64-MW Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plant complex.

“CBK can hold significant value for us at AboitizPower. We believe that we can enhance its operation and maximize its potential as a merchant asset given our experience in hydro technology and our diverse portfolio,” he said.

It ended 2024 with a core net income of P33.7 billion, 5 percent higher than a year ago’s P32 billion, driven by higher generation portfolio margins and more energy sales recorded in the period.

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AFP-JIJI PRESS NEWS JOURNAL


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