Aboitiz Power Corp. is on track to complete several hydro and base load plants in Luzon, Visayas and Mindanao, which will add 500 megawatts of new generation capacity expected to be commissioned next year.
In a briefing to analysts Tuesday, AboitizPower president and COO Antonio R. Moraza said most of its projects are expected to come online in the first half of 2018.
?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. We have one of the most diversified portfolios in the country and we continue to be on the lookout for opportunities to push our balanced mix strategy,? Moraza said.
Meanwhile, Moraza said AboitizPower expects to be able to make a final decision within the year on its Aseagas biomass power plant facility in Batangas that is currently under extended shutdown.
?We are currently continuing our technical evaluation, and a write-off is a possibility,? Moraza said.
AboitizPower, together with its partner SN Power, recently completed the development of the 8.5-MW Maris Canal hydro project in Isabela, while wholly-owned subsidiary Hedcor is wrapping up construction of a 68.8- MW hydro plant in Manolo Fortich, Bukidnon.
The company is also completing the 340-MW Therma Visayas baseload power plant in Toledo City, Cebu and the 400-MW Pagbilao 3 baseload power plant in Quezon.
AboitizPower is the holding company for the Aboitiz Group?s investments in power generation,
distribution, and retail electricity services.