Aboitiz Power Corp. has allotted P28 billion for capital expenditure this year with more than half of the amount to be used for expansion and upgrade of its facilities.
In a preliminary information statement submitted to the Philippine Depository and Trust Corp., Aboitiz Power said expenses for the year include the continuing construction of GN Power Dinginin’s 668 megawatts (MW) coal plant, overhaul of the GNPower Energy Center and the construction of solar, hydro and battery energy storage projects.
Aboitiz Power also reiterated that Japanese firm JERA Asia Private Ltd.’s recent acquisition of 27 percent ownership stake in the company is expected to enhance the group’s planned 10-year energy expansion.
AboitizPower and JERA agreed to explore immediate collaboration in the development of power projects, including liquefied natural gas (LNG) power projects, management and sourcing of LNG fuel supply, and potential participation in plant operation and maintenance.
As of October 2020, Aboitiz Power has the biggest share in installed generating capacity in the entire country at 4,973.4 MW, equivalent to a share of 21.3 percent of the total 23,409.7 MW
Aboitiz Power targets to double its capacity to 9,200 MW by 2030 in which 4,600 MW is targeted for renewable energy projects in the country and overseas. – Jed Macapagal
