AboitizPower sets P24B capex

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    Aboitiz Power Corp. said is looking to allocate a capital expenditure of P24 billion next year to beef up its capacity portfolio.

    In a virtual briefing, Emmanuel Rubio, Aboitiz Power president and chief executive officer, identified the following projects to be funded next year: construction of GNPower Dinginin Ltd. Co.’s 668×2 megawatts (MW) super critical coal-fired power plant; the 49 MW energy storage project of Therma Marine Inc.; and SN-Aboitiz Power’s 20 MW energy storage and 67 MW floating solar projects.

    “We continue to carry out our initiatives to ensure the availability, reliability and efficiency of our power plants and distribution units. Despite the challenges and uncertainties, our growth strategy for the next 10 years remains the same — to significantly grow our renewables portfolio and shift our overall energy mix into an almost 50:50 Cleanergy and thermal capacities by 2030,” he added.

    Rubio said AboitizPower is “seriously” looking at investing in natural gas-fired power plants and other forms of renewable energy sources especially wind and run-of-river hydro as the company also has available land bank.

    At present, the Aboitiz Group and its partners produce 4,471 MW of total net sellable capacity of electricity from both thermal and renewable power sources. – Jed Macapagal