AboitizPower turns 10 at the PSE, sustains mixed energy

AboitizPower turns 10 at the PSE, sustains mixed energy portfolio

AboitizPower is now running in its tenth year at the Philippine Stock Exchange (PSE) and has since maintained a healthy portfolio covering mixed energy sources as part of its 4,000-MW target attributable capacity by 2020.

IN PHOTO: (From left) AboitizPower Independent Directors Carlos C. Ejercito and Alfonso A. Uy, AboitizPower President and Chief Operating Officer (COO) Antonio R. Moraza, AboitizPower Chief Executive Officer (CEO) Erramon I. Aboitiz, PSE Chairman Jose T. Pardo, PSE President and CEO Ramon S. Monzon, PSE COO Roel A. Refran, and AboitizPower Executive Vice President and COO-Generation Business Group Emmanuel V. Rubio, among other AboitizPower and PSE officials, lead the bell-ringing ceremony at the PSE Plaza during the opening of trades last July 18 in celebration of AboitizPower’s 10th year as a listed company.

The energy firm celebrated the decade on July 18, which was dedicated to the robust economic growth of the country by creating long-term strategies on power efficiency and security.

“We will remain strategic yet disciplined in our approach towards achieving our growth goals, always mindful of our role in nation building,” CEO Erramon Aboitiz said. “We will continue to push our balanced mix strategy because we believe that the long-term energy security of the country can be solved by balancing sustainability, accessibility, and reliability of power.”

Around 32 percent of AboitizPower’s 3,955 MW net sellable capacity at present comes from its extended renewable selection, namely geothermal, hydro, and solar power plants.

Furthermore, AboitizPower continues its pursuit in allowing new growth areas for renewable energy for the next 12 months with investments in the 69-MW Manolo Fortich and 8-MW Maris Canal hydro power plants, as well as the 400-MW Pagbilao 3 and 340-MW Therma Visayas thermal power plants.

The company also boasts an impressive profile on its power distribution front served by Visayan Electric Co., Davao Light and Power, and Cotabato Light and Power, reaching to around 900,000 customers in several economic zones in the country.

This translates to an IPO price of P40.05 per share—six times its initial price of P5.80 in 2007—and a 28 percent return to stakeholders compounded annually. In the bourse’s standards, AboitizPower’s dividend policy of paying out half of the annual net income is one of the highest yields recorded.

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