Aboitiz Power Corp. is aiming to hit a 50:50 balance of renewable energy (RE) and thermal portfolios by 2030 where it will have a total portfolio of over 9,000 megawatts (MW).
Emmanuel Rubio, Aboitiz Power president and chief executive officer, said in an online briefing last week the company over the next 10 years aims to double its current fleet size while selectively building baseload capacities with options of either coal and gas.
It will also continue pursuing projects abroad with focus on RE in high growth markets.
Aboitiz Power did not provide the capital expenditure for the plan.
Rubio said the primary focus on RE are on solar, wind and hydro.
Local projects include the recent completion of the commissioning of two wind met masts in Pangasinan to measure available wind resources. Meanwhile, a 50 MW solar project in Central Luzon is eyed to start construction within the second half of the year.
Rubio said the company has secured 815 MW RE service contracts in various phases of development
For RE projects abroad, AboitizPower is still focused on Vietnam and Indonesia and is reassessing its interest in Myanmar due to political instability in that country.
“(For international projects,) we’ll shift from just participating through equity and look at being an operator. It’s something that we’re considering as a business model but to date, we haven’t changed our approach. We will continue to look at projects that we acquire until we make a decision to shift with this model. It is something that’s being evaluated today,” Rubio said.
AboitizPower expects to have attributable capacities from foreign projects by 2023. – Jed Macapagal