ASEAN KEY DESTINATIONS
Aboitiz Power to generate more power
Aboitiz Power Corp. sees its power generation portfolio growing by a quarter within five years.
“Our total attributable capacity is close to 2,400 megawatts. In terms of percentage (of ownership), that would add around 480 megawatts. In the next to three to four years, we will be a little less than 2,900 megawatts,” he said.
The bulk of the company’s power plants was acquired from the government auction block.
Among the projects they will pursue to increase their generating capacity is the 600-megawatt coal-fired power plant in Subic in partnership with Manila Electric Co., Aboitiz said.
AP is in talks with a consortium of local banks to raise financing for the P40 billion project.
“We see financial closure for the Subic plant towards the end of the year,” Aboitiz said.
AP is also building a 300-megawatt coal plant in Davao at a cost of P15 billion to P17 billion.
The company is also pursuing the development of small hydro projects totaling 30-megawatts in Luzon.
Aboitiz said it would be difficult to say whether the company can maintain its current market share because more capacities from other power players may be added to the grid.
AP has a market share of 14 percent of the national grid at the end of 2010.
Its shares fell to P31.60 each on Thursday from P31.95 previously.
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