Aboitiz Power Corp. will spend around P190 billion over the next decade for an additional 3,700 megawatts (MW) renewable energy (RE) projects in its portfolio.
Aboitiz Power said expected total capacity by 2030 will be at 9,200 MW, half of which or 4,600 MW will come from various renewable energy sources.
As of last month, 2,364 MW from the 3,700 MW target has been identified. The projects, located mostly in Luzon, are in varying stages of development.
“We are committed to seeing through our 10-year strategy and this is only the beginning.
There will be more beyond this pipeline for us to reach our target… We look forward to making further announcements in the coming months as we progress with these projects,” said Emmanuel Rubio, AboitizPower president and chief executive officer, in a statement.
Rubio said pipeline RE projects comprises solar projects, 60 percent followed by wind, 32 percent and hydro, 9 percent.
Rubio said the company is optimistic about hitting the 2030 goal without building new coal-fired power plant facilities.
Aboitiz Power recently announced it will start building this year a 74 MW solar power facility in Bugallon, Pangasinan. Majority of the facility’s capacity will be contracted to retail electricity supply to provide a more sustainable energy source to qualified customers.
As of October 2020, Aboitiz Power had 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. – Jed Macapagal
