AboitizPower to add 500 MW in portfolio in 2018

AboitizPower IPO

The Aboitiz Power Corp. is eyeing to add up to 500 megawatts (MW) of attributable capacity in 2018 as it is set to complete several hydropower and coal-fired power plant projects next year.

Most of the projects are on track and should be mostly online by the first half of next year, AboitizPower president and COO Antonio Moraza said.

Together with its partner, SN Power, AboitizPower has completed the construction of its 8.5 MW Maris Canal hydro project in Isabela. Meanwhile, Hedcor’s 68.8 MW hydropower plant in Manolo Fortich, Bukidnon is nearing its completion.

The company is also eyeing the completion of a 340 MW Therma Visayas baseload power plant in Toledo City, Cebu and the 400 – MW Pagbilao 3 baseload power plant in Quezon.

“The entry of these plants will significantly support the country’s energy reserves and will show that the Philippines is open for business and investments,” Moraza said.

Meanwhile, AboitizPower is giving itself until the end of the year to make a final decision on the Aseagas biomass power plant in Batangas that is currently on shutdown.

“We are currently continuing our technical evaluation, and a write-off is a possibility,” Moraza said.