Aboitiz unit expands clean energy portfolio
Aboitiz Power Corp. has expanded its portfolio of renewable energy facilities following its recent acquisition of an 8.8-megawatt biomass power plant currently being constructed in Batangas.
This took effect after Aboitiz Renewables Inc. (ARI)—the holding company of Aboitiz Power’s investment in renewable energy— formalized the acquisition of Aseagas Corp. from Aboitiz Equity Ventures, Inc. (AEV).
“The addition of Aseagas and biomass technology intensifies AboitizPower’s efforts in expanding our renewable energy portfolio. We are excited about biomass and we hope to build more capacity through this technology,” Aboitiz Power president and COO Antonio R. Moraza said in a statement.
“We have always expressed that AboitizPower will continue pursuing renewable energy as long as it is available and viable; this project is a testament to that commitment,” Moraza added.
This is Aboitiz Power’s first foray into biomass technology.
According to the company, the biomass power plant is expected to become fully operational by the fourth quarter of 2016. The electricity to be generated from this facility will be sold to the grid.
The said Aseagas biomass facility is expected to convert organic wastes from its partner Absolut Distillery Inc. (ADI) into clean and renewable energy, which will help provide power to some 22,000 households. It is also expected to produce 33 tons of liquid carbon dioxide (LCO2) daily for the industrial and beverage industries.
Aboitiz Power now has an extensive RE footprint nationwide with its large hydro, run-of-river hydro, geothermal, solar, and more recently, biomass power plants. It was only in April this year that Aboitiz Power had ventured for the first time into solar power, with the inauguration of the San Carlos Sun Power Inc.’s 59-MWp solar power plant in Negros Occidental.
At present, Aboitiz Power and its partners produce 3,350 MW of net sellable capacity, making it one of the largest power producers in the country. Of this capacity, 38 percent comes from the company’s renewable energy facilities located all over the country.
