AboitizPower targets to develop 1,000 MW of solar plants in next two years

ABOITIZ Power Corp. (AboitizPower) plans to build around 1,000 megawatts (MW) of renewable energy (RE) capacity in the next two years, its president said on Monday.

“Our intention is to build more RE. Expect more, we are ready to issue a notice to proceed with about 1,000 MW of solar projects that will come in late 2025 and early 2026,” Emmanuel V. Rubio, president and chief executive officer of AboitizPower, said during a virtual press briefing.

The additional capacity is part of the company’s target to reach 4,600 MW of renewable energy by the end of the decade, he said.

The listed energy company of the Aboitiz group has set a goal of 50:50 renewable energy and thermal capacities by 2030. It has set a target of building an additional 3,700 MW of renewables that will grow its capacities to 4,600 MW by 2030.

“Because of El Niño, because of some aging facilities that are actually still providing power to the grid. We really need to make sure we are addressing the demand and making sure we have enough reserves in the grid,” he said.

Just last week, the Luzon and Visayas power grids were placed in red and yellow alerts for three consecutive days after the combined 50 plants, mostly hydropower, were on forced outage or unable to operate at a full capacity.

Apart from growing its renewable energy capacities, the company is also making significant investments and expansion projects in coal-fired power plants.

He said the company is looking to expand the capacity of its 340 MW coal-fired power plant located in Toledo City, Cebu, to address the growing energy demand in the area.

To recall, the company said last year that it is looking at increasing the capacity of its Cebu plant through liquefied natural gas (LNG) or by expanding its coal assets.

The company’s plan to expand its coal assets in Cebu is mainly because adding more solar capacity is not suitable for the area and expanding its coal assets would provide a reliable energy source, Mr. Rubio said. — Ashley Erika O. Jose