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Aboitiz Power Corporation (AboitizPower), the subsidiary of listed conglomerate Aboitiz Equity Ventures, is continuously expanding its renewable energy (RE) portfolio in the country as it ramps up the development of all its hydropower projects.

A statement showed that the capacity of AboitizPower’s hydro projects that are now in advanced developments already stood around 97 megawatts.

AboitizPower President and Chief Operating Officer Antonio Moraza said that the company’s continued expansion of its RE portfolio is in line with its balanced mix growth strategy.

“We never stop looking for ways to maximize productions from our RE facilities because we know the role it plays in our overall strategy,” Moraza said.

Moraza also added that apart from new RE businesses, the company also explores innovative ways to maximize clean and renewable energy sources.

As of now, AboitizPower and its partners currently have a total of 787-MW capacity from hydropower generation facilities, which make up 62 percent of its total 1,263-MW RE capacity.

The company also owns the 4th and the 7th largest geothermal power plants in the world, which are the 448-MW Makban Geothermal Power Plant in Laguna and Batangas, and the 234-MW Tiwi Geothermal Power Plant in Albay, respectively.

In 2016, AboitizPower also launched its first venture into solar power in Negros.

“If we can maximize the potential to produce more energy from an existing resource, we will do it, and that is what we did with Maris, as well as the binary plant in Makban, and soon in Bineng. And our teams will continue to look at these opportunities, as well as new greenfield renewable projects wherever they are available and viable,” Moraza said.

Just recently, AboitizPower’s subsidiary, SN AboitizPower, has completed the commissioning of its 8.5-MW Maris Main Canal 1 hydroelectric power plant as it gears toward full commercial operation this November.

Reference:

Miraflor, M. B. (November 20, 2017). AboitizPower widens RE portfolio, with hydro projects. Manila Bulletin. Retrieved from https://business.mb.com.ph/2017/11/20/aboitizpower-widens-re-portfolio-with-hydro-projects/

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