Aboitiz Power Corporation (Aboitizpower) expects continuous progress in 2025, reinforced by its business and operational performance last year, who saw developments in his ambitious program to grow his renewable energy fleet by 2030.
“Aboitizpower remains aimed at supplying operational excellence in its power plants, developing a pipeline of new energy capacity and pursuing opportunities in his distribution and retail activities,” said Aboitizpower Chief Finance Sandro Abitiz.
The company quoted the 159 MWP Laoag Solar; the 17-MW Tiwi binary geothermal; the 45-MWP Armenia Solar; and the 173-MWP Calatrava Solar-Alle energy projects that went online in 2024 and performance in its 10-year growth strategy of adding approximately 3,700 MW of new renewable energy capacity towards the end of decade.
“The energy of the sun plants of Armenia and Calatrava in the fourth quarter were finished in the strong performance of Abitizpower in 2024,” Abboitiz said. “Aboitizpower is planning to increase his momentum and we are delighted to build the next wave of renewable energy projects in 2025 and then.”
Aboitizpower will help contribute to the power supply, because the Filipino economy continues to grow in the short term. The company will cause the impact due to its portfolio of thermal, renewable energy, energy storage systems and distribution, as well as from the electricity services segment for retail.
“Power factories and energy networks are crucial components to feed the development of the nation. With the completion of BIG-ticket transmission projects such as the Mindanao-Visaya interconnection and the CEBU-Negros-Panay-Ruggrekat, more generated electricity can be delivered to demand centers, “said Aboitiz.
Aboitizpower believes in a holistic approach to the Filipino energy transition, which requires all available and viable technologies on the table; From thermal to renewable, to energy storage. Currently, the company still has more than 1,000 MW of announced projects from different indigenous energy sources, while constantly strives for opportunities in solar energy, hydro, geothermal, wind and energy storage systems.
Last year Aboitizpower’s Transition Business Group sustained multi-year best-in-class availability and reliability. Through a Digital Transformation Program Called “Project Arkanghel,” which is in partnership with Thai Company Repco Nex Industrial Solutions, Abboitizpower Aims to Transform its thermal Power Plants Into Smart Power Plants Mime Femmenteries and Assitoring the number Vegetable outages.
“The energy transition requires thermal capacities to support variable capacities for renewable energy and to guarantee the affordability and security of our energy system,” Aboitiz explained.
In the first nine months of 2024, the Aboitizpower distribution tools saw an increase in energy sale of residential and commercial and industrial customers, with 14% and 5% respectively, year after year. This reflects the expected increase in demand for electricity, a process that will continue in the coming decades.
Together, the EBITDA of Aboitizpower saw an increase of 12% year after year to P56.09 billion in the first nine months of 2024. This is attributed to portfolio margins with a higher generation and the integration of extra capacities, as well as the growth in retail volume and increases In energy sales of the distribution company.
For three years in a row, Aboitizpower also received a Golden Arrow Award, which marks compliance with the standards of the business government and a favorable status with international best practices. For the Asean Corporate Governance Scorecard 2023, the company received a recognition of 3 arrows.
“This price acknowledges our efforts to maintain transparency, accountability and ethical company standards and is proof of the dedication of our team in maintaining the highest standards for Corporate Governance,” said Abitiz. “We strive to transform energy for a better world by delivering strong performance between business segments, generating a positive impact in host communities and minimizing side effects on the environment.”
Together with the rest of the Aboitiz Group ESG strategies – or the environment, social and administration – Aboitizpower has long been maintained in its activities, which include for decades of aspiration and are recognized as role models of environmental management, social responsibility, good governance and commercial citizenship.
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