Aboitiz Power Corp. is eyeing the completion of 800 megawatts (MW) worth of both renewable energy and coal-fired power projects this year to balance its portfolio by 2020.
President and COO Antonio Moraza said the company is slated to complete five projects with a combined capacity of 828.3 MW as part of its mission to gain a wide and diverse portfolio of generating assets to address the country’s power demand.
These projects are the 8.5 MW Maris Canal hydro project in Isabela and the 69 MW Manolo Fortich hydropower plant in Bukidnon, both under SN AboitizPower; the 340 MW Therma Visayas baseload plant with Vivant Corp.; and the 400 MW Pagbilao power plant expansion with TeaM Energy Corp.
They are in the commissioning process for the 8.8 MW biomass plant in Lian, Batangas.
Moraza said the company’s development of a diverse portfolio is in line with the government’s efforts to kick in supply from various technologies.
“That has always been part of strategy – to tap renewable energy as long as it is available and cost-effective for the consumers, but at the same time utilize the reliability of thermal power plants,” Moraza said.
“At the end of the day, this will encourage more options and competition for the lowest price and better service. The end-consumers will be the winners,” he added.
Aboitiz Power currently has 3, 350 MW of sellable capacity, 39 percent of which are from its renewable energy plants.
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