Philippines' Aboitiz to invest P85-B in power projects

This Aboitiz Group is poised to take the second spot among the Philippines' biggest players in the power industry.

This will be possible with the group's P85 billion in power projects for the next 3 to 4 years.

The Aboitiz group is currently in the third spot after San Miguel Corporation and the First Gen-Energy Development Corporation tandem of the Lopez group.

For Mindanao alone, Aboitiz Power President Erramon I. Aboitiz noted that capital outlay of P35 billion will be proceeding as planned.

Its 300MW greenfield coal facility will provide more than half of the capacity shortfall that the Mindanao grid badly needs.

Aboitiz has intimated that Mindanao is a good frontier for investments, but the biggest roadblock had been the lingering power shortages in the area. Apart from the southernmost power grid, the Aboitiz firm is also pursuing ‘organic growth’ in Luzon with various power plant investments in the pipeline.

In their most advance stages are the proposed 600-megawatt Subic coal-fired power facility wherein the company holds a minority stake; and the other is its joint venture with TeaM Energy for the 400-MW Pagbilao plant expansion.

The company is also looking at expanding its hydro portfolio via expansion of some existing assets, including the Magat facility in Isabela.

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