AboitizPower nears 4,000 MW capacity

THE Aboitiz Power Corporation’s target of increasing its total capacity to 4,000 megawatts (MW) by 2020 is near completion, an official said.

“At present, AboitizPower produces a sellable generating capacity of 3,350 MW. We are now very close to our target,” Jaime J. Aboitiz, executive vice president and chief operating officer of Aboitiz Power Corp. Distribution Group told Sun. Star Davao in an interview at the sidelines of the Aboitiz Media Party 2016 last Friday, October 7 at SMX Convention Center, Lanang, Davao City.

He said AboitizPower, which comprises about 75 percent of the Group’s business, remains committed along with its partners to achieve its goal in time.

The power firm’s present sellable generating capacity is a mix of renewable and non-renewable power sources.

The 300 MW Therma South Inc in Toril and our latest RE facility, the 59MW Sacasun solar plant in Negros Occidental were both launched this year.

“The nearly-completed Manolo Fortich Hydroelectric Power Project in Bukidnon will add 69 MW to our Cleanergy portfolio which is currently at 1, 263 MW,” Aboitiz said.

“Our recent purchase

of the 66% interest in the operating GN Power Mariveles 604MW plant and 40% in GM Power Dinginin s 668MW plant due in 2019 are bringing us closer to our 4, 000M W goal,” he added.

Aboitiz also shared that the company is shaping up a good year in 2016, beginning with AEV’s 34 percent year-on-year income growth for the first half.

The bulk of the Aboitiz Equity Ventures (AEV) capital expenditure (capex) for this year, pegged at P58.4 billion, is for power generation projects.

The holding company is pouring in 90 percent of its capex for AboitizPower, the power sector arm of the company, with a total of P52 billion. ASP (For full story visit www. sunstar.com.ph/davao/)