The Aboitiz Power Corp. is also urging the government to resolve on the commission-less Energy Regulatory Commission (ERC).
“A working regulatory body balances the welfare of the paying consumers, interests of the private investors, and the government’s desire for reliable and ample power,” AboitizPower president and COO Antonio Moraza said.
The Aboitiz official added that an ERC that is functioning and just is important for the energy sector to work.
“We are appealing to the national leadership to resolve the ERC issue as soon as possible so the commission can get back to work and act on many pending issues awaiting their decision,” Moraza said.
The company is looking to add 500 megawatts (MW) of attributable capacity in 2019 as soon as it completes several hydropower and coal-fired power plants in the country.
Most of these projects are on track and may begin operation by the first semester of 2018.
AboitizPower has completed the construction of the 8.5 MW Maris Canal hydro project in the province of Isabela with partner SN Power. Meanwhile, subsidiary company Hedcor nears the completion of the 68.8xMW hydro plant in Manolo Fortich, Bukidnon.
It is also completing the 340-MW Therma Visayas baseload power plant in Toledo City in Cebu and the 400-MW Pagbilao 3 baseload power plant in Quezon. Both of which will begin commercial operations within the first quarter of this year.