AboitizPower to expand RE portfolio

MANILA, Philippines — Aboitiz Power Corp. is targeting to grow its renewable energy portfolio – which it dubbed Cleanergy – to 4,600 megawatts (MW) in 10 years.

“In the next 10 years, our focus will be to grow our Cleanergy portfolio to 4,600 MW. This is well on track as we have several renewable energy projects that are in various stages of development,” AboitizPower president and CEO Emmanuel Rubio said in a statement yesterday.

The company’s Cleanergy net attributable capacity is 928 MW.

The additional RE capacity will all come from greenfield projects here and abroad, Rubio said in a text message to The STAR.

“The 4,600 MW total RE by 2030 will include RE capacity overseas. [They] are all attributable and all greenfield. When there are opportunities for possible acquisition, they should be on top of this target,” he said.

The Cleanergy capacity target will account for roughly half of the 9,200 MW overall capacity target by 2030.

“The significant growth of Cleanergy will bring our overall capacity to 9,200 MW by 2030, with a 50:50 balance between renewables and thermal. This is our contribution to addressing the country’s energy trilemma of the reliability, affordability, and sustainability of our energy supply,” Rubio said.

“Our RE growth strategy is not based on a market position of who has the most RE capacity. Our targets are based on what we believe are realistic projects, so we can focus our resources in making this goal a reality,” he said.

In growing its renewables capacity, AboitizPower is increasing its focus on solar, wind and hydro facilities across the next couple of years, AboitizPower-Renewable Power Generation Group COO Alex Coo said in a forum yesterday.

Aboitiz Equity Ventures Inc. (AEV) president and CEO Sabin Aboitiz earlier said AboitizPower was working on a pipeline of 1,600 MW of RE projects to help meet its 2030 aspiration of doubling its existing attributable capacity while raising its RE share.