Wednesday 23 May
Powered by Ajaxy
Jan 15, 2018 @ 18:18

Aboitiz power unit shuts down Batangas biomass plant


Aboitiz Power Corp. has permanently shut down the operations of its 8.8 megawatt biomass power plant in Lian, Batangas.

The facility, owned by AP’s wholly- owned subsidiary Aseagas Corp., ceased operations due to unavailability of supply of organic effluent wastewater from its supplier.

“Total value affected as a result of the closure is estimated to be P3.7 billion, which represents Aseagas invested equity of P3.45 billion,” AP said.

The company decided to make the plant shutdown permanent after a full assessment.

“Our top consideration now is to balance the interests of all our stakeholders, including that of Aseagas’ employees,” said Antonio R. Moraza, AP president and COO.

Moraza said AP is still on track to add some 500 MW of attributable capacity, mainly from baseload and hydro power plants in 2018. This pushes the company closer to its 2020 target of 4,000- MW net attributable capacity.

Tags: , , , , ,

Related Stories
Aseagas Corp., a wholly-owned subsidiary of Aboitiz Power Corp., has settled P2.37 billion in debt
Antonio family-led Century Properties Group expects to generate about P13 billion from the sale of
Century Propertiea Group's Phirst Park Homes is rolling out P2.8 billion worth of housing units
MPCALA Holdings Inc., expects to secure original proponent status for its proposal to build the


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.