Aboitiz adds up 500MW power capacity
Amid slight delays in commissioning processes compounded by capacity contracting hurdles, Aboitiz Power Corporation has been pinning hopes that it will add up 500 megawatts (MW) of capacity in the country’s electricity system next year.
That capacity additions will be generally coal-fired technology, primarily from its 200MW capacity share in the Pagbilao plant expansion, its 300MW Toledo power project in Cebu and the measly ‘clean technology’ additions would be the 8.5MW Maris Canal hydropower project in Isabela and the 68.8MW Manolo Fortich hydropower venture.
The Pagbilao power plant expansion project is of 400MW capacity, but half of that would be attributable capacity to its partner TeaM Energy Philippines, a joint venture of Japanese firms Tokyo Electric and Marubeni Corporation.
Aboitiz Power President and Chief Operating Officer Antonio R. Moraza said “the projects are on track and should be mostly online in the first half of 2018.”
In a recent press briefing though, company executives admitted that several weeks of setbacks were actually encountered in the commissioning and testing phases of their Pagbilao and Toledo plants.
To Moraza’s assessment, “the entry of these plants will significantly support the country’s energy reserves and will show that the Philippines is open for business and investments.”
The company re-stated its adherence to having a balanced and diversified portfolio, although at this point, its power plants are generally of coal-fired technologies.
On Aboitiz Power’s less successful foray into biomass venture, the company noted that they are expecting “to be able to make a final decision within the year on its Asean biomass power plant facility in Batangas that is currently under extended shutdown.”
Moraza said “we are currently continuing our technical evaluation, and a write-off is a possibility.”
Of the greenfield power projects, Aboitiz Power had also not been that successful in its 59MW San Carlos solar power project in Negros Occidental.
The new capacity additions next year though would still be prime in their overall target of ramping up power generation portfolio to 4,000 megawatts by year 2020. (MMV)