AboitizPower gets P73B Capex for 2024

Business.(Business File photo)

ABOITIZPOWER (AP) is getting the biggest share at P73 billion, or 48 percent of the Aboitiz Group’s total capital expenditure, mainly for its pipeline of renewable energy (RE) projects.

This is a major jump from the previous year’s capital expenditures and represents the firm’s and the group’s mission of developing cleaner and more sustainable energy sources for the country.

The company has over 1,000 megawatts (MW) of disclosed RE projects in construction and development en route to hitting a target of 4,600 MW within the next decade.

This includes the 159 MW peak (MWp) Laoag Solar Power Project in Aguilar, Pangasinan; the 17 MW Binary Geothermal Power Project in Tiwi, Albay; the 173 MWp Solar Power Project in Calatrava, Negros Occidental; the 45 MWp Solar Plant in Armenia, Tarlac; and the 212 MWp Solar Power Project in Olongapo, Zambales.

AP also plans to break ground on several RE projects this year, including the 89 MWp Solar Project in San Manuel, Pangasinan and a 50 MW wind plant in Camarines Sur, done in partnership with another energy firm. / PR


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