The Aboitiz Power Corporation is set to expand its power generation portfolio next year with three greenfield power plants set for operation that will add around 600 megawatts to its attributable capacity.
These greenfield plants are the 68.8 MW Manolo Fortich hydropower facility; the 340 MW Therma Visayas coal – fired power plant in Toledo, Cebu; and the 400 MW expansion of the Pagbilao coal – fired plant in Quezon province, Aboitiz Power – Oil Business Unit President and Chief Operating Officer Danel C. Aboitiz said.
The power company is currently aiming for their 4000 megawatts capacity in the next four years through ‘new builds’ and acquisitions. Aboitiz is now ranked second among the country’s biggest and deep-pocketed power industry players.
“We are on target to achieve our 4,000Mw by 2020,” he said. The company’s attributable assets are now at the 2, 577 MW marl, excluding pending acquisition approval.
With the capacity summation next year, the company’s portfolio will come close to 3,200 megawatts that includes the 8.8 MW Aseagas biomass that is under commissioning.
The probability impacts of the sizable capacity additions will be felt at around 2018, Aboitiz Equity Ventures Chief Finance Officer Manuel Lozano said.
Aboitiz Power is also eyeing expansion plans targeting projects overseas.
“We are looking at countries for strategic opportunities – Vietnam, Indonesia and Myanmar…at the moment, what we have in the pipeline for 4,000 megawatts does not include international targets,” Aboitiz said.
Aboitiz is eyeing to bid on the geothermal assets of Chevron Corporation in Myanmar.