AboitizPower supports PH economic recovery, energy transition

With the Philippine economy gradually recovering from the impact of the devastating COVID-19 pandemic and the depletion of the country’s natural indigenous gas supply, projections show that the country’s power demand and supply situation will remain tight this year.

Despite this challenging power situation, AboitizPower remains bullish about its strategy over the next decade, which is designed to support the country’s growth aspirations and energy transition.

In the next 10 years, AboitizPower will significantly expand its Cleanergy portfolio. AboitizPower has earmarked a massive investment of P190 billion to build an additional 3,700 megawatts of renewable energy, growing its existing Cleanergy capacity threefold by 2030.

In December 2021, AboitizPower, through a unit of Aboitiz Renewables, Inc., announced the award of the Engineering, Procurement and Construction contract for its 94-MW peak solar project in Pangasinan, setting the momentum for its renewable energy growth ambitions over the next decade.

The project is targeted to be operational by end-2022 and is expected to produce 147 million kilowatt-hour of clean energy annually or enough to energize over 60,000 Filipino homes all year round.

This 2022, the company is set to begin the construction of 600 MW of renewable energy projects.

The power unit of the Aboitiz Group believes, however, that baseload power from conventional energy sources will still play a very critical role in the energy transition of a developing country like the Philippines.

But clearly, the vision is to make that shift to clean and renewable energy to drive decarbonization, pursued in step with economic growth.