AboitizPower Aims for 50:50 Balance Between RE, Thermal Portfolios by 2030

AboitizPower

Aboitiz Power Corporation, the largest owner and operator of renewable energy in the Philippines, is aiming to hit a 50:50 balance between its renewable and thermal portfolios by 2030 in support of the global movement for clean energy.

Underpinning this strategy are AboitizPower’s plans to invest in more renewable energy projects, both here and abroad, while selectively building baseload power plants, particularly natural gas-powered, as these are still necessary to support the country’s growing energy needs.

“In the next 10 years, we will further grow our Cleanergy portfolio, both domestically and internationally, in an effort to help build the country’s renewable energy market and contribute to the global renewable energy goals. Last year was a year of plans, but this time around, we’re going to put those plans into action,” AboitizPower President and Chief Executive Officer Emmanuel V. Rubio said.

At present, AboitizPower is working on several RE projects with a primary focus on solar, wind, and hydro. AboitizPower recently completed the commissioning of two wind met masts in Pangasinan and targets to start construction on a 50-MW solar project in Luzon within the second half of 2021.

In addition to 815 MW of service contracts already secured and in various phases of development, AboitizPower’s team dedicated to RE is also identifying and evaluating additional pipeline projects, most of which are based in Luzon. Current activities are focused on permitting, feasibility studies, and tendering.

“This transition is not easy, but is definitely achievable. It is possible with the private sector and the government working together to ensure that the country’s renewable energy supply is more sustainable,” Rubio added.

AboitizPower is no stranger to the renewable energy space as it was among the pioneers of RE in the Philippines, having had its first Cleanergy facilities operated by Hedcor as early as the 1970s.

Hedcor, which formerly stood for Hydro Electric Development Corporation, simply became known as Hedcor, Inc. after a de facto merger between Northern Mini Hydro Corporation and HEDCOR with Benguet Hydro Corporation.

AboitizPower, together with its partners, has since invested in other renewable energy projects such as geothermal, large hydro, and solar energy facilities across the Philippines.

AboitizPower is committed to supporting the government’s thrust to promote renewable energy in the country and its growth aspirations over the years, as well as backing the global movement for clean energy. Through this transition, the power company looks forward to driving change for a more sustainable future for the country. – BusinessNews.ph

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