Aboitiz Power Corporation is looking to invest in the building of new liquefied natural gas (LNG) plants in the country.
AboitizPower President and CEO Emmanuel Rubio said that the company is seriously considering gas as the way to move forward, thereby helping the country meet its need for more base load power capacity.
Rubio added that while AboitizPower supports the Department of Energy’s moratorium on building new coal-fired power plants, he also has yet to see the guidelines or any written document on the matter before giving any further comment. Nonetheless, it is aligned with the company’s vision of a 50-50 mix of thermal and renewable energy (RE).
AboitizPower is currently engaged in both coal power and RE with a combined output of around 940 megawatts (MW), which it plans to raise to around 1,800 MW in the coming years.
Aside from investing in LNG, AboitizPower will also go heavy on RE projects, which include solar installations, run-of-river hydro developments, and wind-generating facilities.
One of its joint ventures, SN Aboitiz Power, was given the green light to prepare a bid for the engineering, procurement, and construction of a 67 MW solar farm at its Magat Dam facility in Isabela.
AboitizPower recently reported lower net incomes due to the COVID-19 pandemic.
