The Philippines faces the twin challenges of supporting high economic growth and contributing to a more environmentally sustainable economy.
High economic growth requires building reliable and affordable power infrastructure to power businesses, communities, and homes and this infrastructure historically has been thermal in nature.
On the other hand, the increasing pressure to mitigate climate change requires power players to build renewable energy capacity to decarbonize the energy system.
AboitizPower is committed to meeting these challenges head-on. Together with its partners, AboitizPower currently is the largest owner and operator of renewable energy based on installed capacity in the Philippines.
Over the next 10 years, AboitizPower will expand its investments in renewable energy both here and abroad to a total of 4,600 MW, resulting in a 50:50 balance between its renewable and thermal portfolios.
This aspiration supports the government’s efforts in the Philippines to build a more sustainable energy system and supports the United Nations’ Sustainable Development Goal no. 7 of Affordable and Clean Energy.
As of August 2021, AboitizPower has already identified about 2,900 MW of new RE projects across the country, all in varying stages of development.
“We are committed to seeing through our 10-year strategy and to supporting the energy transition. The RE pipeline we have identified today is only the beginning. We will work hard to continue to grow it in order to meet our long-term aspirations,” AboitizPower President and CEO Emmanuel V. Rubio said.
The company’s RE pipeline projects are currently 60 percent solar, 32 percent wind, and 9 percent hydro. Since all of these projects are still in the development stage, specific details on size and cost are still being finalized.
“We look forward to making further announcements in the coming months as we progress with these projects,” Rubio added.
As AboitizPower identifies more RE projects in the next 10 years, the company is optimistic that it can hit its 2030 goal without building any new coal-fired power plant facilities.
AboitizPower recently announced that this year it will start building a 74-MW solar power facility in Cayanga in the town of Bugallon, Pangasinan. The majority of the facility’s capacity will be contracted for retail electricity supply, which can help bring more sustainable energy to power consumers across the country.
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AboitizPower focuses on Renewable Energy to support the energy transition in the future
Source: Bantay Radio
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