ABOITIZPOWER UPS ANTE ON RE PROJECTS
AboitizPower Corporation, now the country's largest producer of renewable energy (RE), will start work on a 50MW solar project in the second half of the year, one of several RE projects it has lined up in the next 10 years as part of a global movement for clean energy.
Aboitiz Power president and CEO Emmanuel V. Rubio said several RE projects are in the pipeline as the company is focused on its Cleanergy portfolio centered on solar, hydro and wind where it has recently completed the commissioning of two wind met masts in Pangasinan.
"Last year was a year of plans, but this time around, we're going to put those plans into action," Rubio said, citing the company's target of having a 50-50 percent balance between its renewable and thermal portfolios by 2030.
The company also targets RE projects abroad even as it selectively builds baseload power plants, particularly natural gas-powered, as these are still necessary to support the country's growing energy needs.
"In the next 10 years, we will further grow our Cleanergy portfolio, both domestically and internationally, in an effort to help build the country's renewable energy market and contribute to the global renewable energy goals.
Aside from 815 MW of service contracts already secured and in various phases of development, AboitizPower's team dedicated to RE is also identifying and evaluating additional pipeline projects, most of which are based in Luzon. Permitting, feasibility studies, and tendering are now underway in these planned projects.
"This transition is not easy but is definitely achievable. It is possible with the private sector and the government working together to ensure that the country's renewable energy supply is more sustainable," Rubio added.
AboitizPower is no stranger to the renewable energy space as it was among the pioneers of RE in the Philippines, having had its first Cleanergy facilities operated by Hedcor as early as the 1970s.
Hedcor, which formerly stood for Hydro-Electric Development Corporation, simply became known as Hedcor, Inc. after a de facto merger between Northern Mini Hydro Corporation and HEDCOR with Benguet Hydro Corporation. The company, together with its partners, has since invested in other renewable energy projects such as geothermal, large hydro, and solar energy facilities across the Philippines.
AboitizPower said it is committed to supporting the government's thrust to promote renewable energy in the country for a more sustainable future and is attuned with the global movement for clean energy.