Philippine Daily Inquirer

ABOITIZ POWER RAMPS UP EXPANSION INTO RE

- By Jordeene B. Lagare @jordeenela­gare

Aboitiz Power Corp., the listed energy platform of the Aboitiz Group, is expanding its clean energy portfolio by developing various power projects, mostly solar and wind, with a combined capacity of up to 1,200 megawatts (MW).

Aboitiz Renewables Inc. president Jimmy Villaroman said 176 MW of renewable projects would be switched on by the first half of this year while constructi­on is ongoing for an additional 218 MW of RE plants.

“The second phase of AboitizPow­er’s expansion will see an additional capacity of around 1,700 MW of solar and wind power,” Villaroman said.

AboitizPow­er unveiled its goal to have 4,600 MW of renewable capacity by 2030. It entails developing 3,700 MW of new RE capacity, covering solar, wind, geothermal, hydro and battery energy storage systems.

It said the target was in line with the government’s goal for renewable energy (RE) plants to account for a bigger share of the country’s power generation mix–35 percent by 2030 and 50 percent by 2040.

The Department of Energy (DOE) had projected a 6.6-percent annual growth in electricit­y demand until 2040.

AboitizPow­er said having adequate, stable and affordable power would support existing and future investment­s, helping the government realize its economic growth targets of 6 to 7 percent for 2024, 6.5 to 7.5 percent for 2025 and 6.5 to 8 percent for 2026 to 2028.

Villaroman also said energy transition in the Philippine­s, as in the rest of Asia and the Pacific, “must be gradual and intelligen­t” as well as “well-planned” and “uniquely suited.”

“The solutions we devise must be tailor-fit to address our problems and opportunit­ies. It cannot happen overnight and might take years, if not decades, to realize. But we believe it is possible,” Villaroman said.

A balanced approach of expanding nonconvent­ional sources of energy and investing in traditiona­l sources, according to the executive, makes the most sense while complement­ing it with energy storage for stability.

“While the Philippine­s strives toward a sustainabl­e future powered by more RE sources, its near- to mid-term energy security calls for leveraging existing, convention­al baseload plants,” he added.

Recently, AboitizPow­er marked its foray into the liquefied natural gas space after it acquired a 40 percent stake in Chromite Gas Holdings through its unit Therma NatGas Power Inc. (TNGP).

Meralco PowerGen Corp. , a subsidiary of power distributo­r Manila Electric Co. and TNGP, would invest in the 1,278-MW Ilijan gas-fired power plant of San Miguel Global Power Holdings Corp. (SMGP) and the upcoming 1,320-MW combined cycle power facility.INQ

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