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Aboitiz Power on track to double capacity
Danessa Rivera (The Philippine Star) – January 3, 2021 – 12:00 am
MANILA, Philippines – Aboitiz Power Corp. said it remains on track to double its capacity by 2030 despite the negative impact of the COVID-19 pandemic on the power sector.
The company said it is still determined to significantly expand its renewable power plant portfolio over the next 10 years and by 2030, its capacity mix would have transformed into a nearly uniform ratio of thermal energy to clean energy.
“Our goals in the next decade remain the same. We will continue to seek a major shift in our energy mix by 2030, but while we remain focused on addressing the country’s energy trilemma of energy security, energy equity and environmental sustainability, we will shift the balance from ensuring low-cost energy to providing energy from more sustainable sources. said AboitizPower President and CEO Emmanuel Rubio.
In April, the company announced its plan to double its capacity from 4,432 megawatts to 9,300 MW by 2029.
“We will leverage our learnings from the pandemic to ensure that we carry out our 10-year growth strategy efficiently, effectively and sustainably,” Rubio said.
The company official said AboitizPower would continue to be one of the largest players in the country with the largest installed renewable energy capacity at 1,540 MW.
The company had high hopes for 2020 as it anticipated the realization of its growth strategy over the next decade.
But three months after what the firm thought would be a stellar year, the COVID-19 crisis had an unprecedented impact on the power company, forcing it to transition from significantly growing the business to keeping it afloat. , and from expanding the organization to making necessary adjustments to its workforce.
Rubio said the power sector was affected by the pandemic, as seen in the significant drop in demand and power consumption with the imposition of COVID-related shutdowns.
“Due to the drop in energy demand and consumption, our generation and distribution businesses were severely affected,” he said.
The company has seen demand for energy rise from levels during the enhanced community quarantine period.
“The grids have already recovered from the third week of November, but still lower than last year,” said Rubio.
Despite all of this, he said AboitizPower remains committed to advancing businesses and communities by continuing to provide reliable, reasonably priced and responsibly produced power solutions, even in the new normal.
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