Business World Online
Posted on 09:32 PM, November 24, 2010
LISTED Aboitiz Power Corp. wants to build hydroelectric power plants in “frontier areas” being offered by the government as it strengthens its renewable energy portfolio.
Aboitiz
Aboitiz Power Senior Vice-President Luis Miguel O. Aboitiz told reporters the company and subsidiary SN-Aboitiz Power Corp. were looking at building hydroelectric plants in locations with “limited technical data.”
The list being considered by Aboitiz Power includes a 175-megawatt facility in Tineg, Abra.
“We are looking at [building a] 175-megawatt (MW) plant but there are others that seem more attractive. That is only one of several [projects] we are considering,” said Mr. Aboitiz.
The government is offering 10 areas which can host hydroelectric power plants.
The “prospects” are in Atok, Benguet (33.8 MW), San Mariano, Isabela (25 MW), Quirino, Ilocos Sur (10 MW), Tineg, Abra (175 MW), Aglipay, Quirino (46 MW), San Agustin, Surigao del Sur (10 MW), Santiago, Agusan del Norte (11.3 MW), Davao del Sur (17.5 MW), Lebak, Maguindanao (30.6 MW), and Jabonga, Agusan del Norte (25 MW).
The estimated cost for all projects is $960.5 million, according to the Department of Energy.
The 175-MW prospect in Tineg, Abra that Aboitiz Power is considering has an estimated cost of $437.5 million.
Energy Secretary Jose Rene D. Almendras bared the list of areas where small hydroelectric power projects may be developed during last week’s public-private partnership conference for investors.
Aboitiz Power’s net income for the nine-month period that ended September ballooned by 383% to P18.6 billion from P3.86 billion in the same period the previous year.
The firm recorded a 195% year-on-year rise in power sales to 7,340 gigawatt-hours (GWh) from 2,489 GWh.
Last year, Aboitiz Power bagged the Tiwi-Makban geothermal plants, which recorded a peak generation output of 467 megawatts in 2009; two 100-MW bunker-fired power barges; and the independent power producer administrator contract for the 700-MW Pagbilao coal-fired plant. These assets accounted for more than 90% of the firm’s power generation portfolio.
Electricity sales recorded by Aboitiz power utilities rose by 9% year-to-date to 2,677 GWh from 2,460 GWh.
Shares in the firm closed at P33.95 apiece yesterday, up by 3%. -- E. N. J. David
The list being considered by Aboitiz Power includes a 175-megawatt facility in Tineg, Abra.
“We are looking at [building a] 175-megawatt (MW) plant but there are others that seem more attractive. That is only one of several [projects] we are considering,” said Mr. Aboitiz.
The government is offering 10 areas which can host hydroelectric power plants.
The “prospects” are in Atok, Benguet (33.8 MW), San Mariano, Isabela (25 MW), Quirino, Ilocos Sur (10 MW), Tineg, Abra (175 MW), Aglipay, Quirino (46 MW), San Agustin, Surigao del Sur (10 MW), Santiago, Agusan del Norte (11.3 MW), Davao del Sur (17.5 MW), Lebak, Maguindanao (30.6 MW), and Jabonga, Agusan del Norte (25 MW).
The estimated cost for all projects is $960.5 million, according to the Department of Energy.
The 175-MW prospect in Tineg, Abra that Aboitiz Power is considering has an estimated cost of $437.5 million.
Energy Secretary Jose Rene D. Almendras bared the list of areas where small hydroelectric power projects may be developed during last week’s public-private partnership conference for investors.
Aboitiz Power’s net income for the nine-month period that ended September ballooned by 383% to P18.6 billion from P3.86 billion in the same period the previous year.
The firm recorded a 195% year-on-year rise in power sales to 7,340 gigawatt-hours (GWh) from 2,489 GWh.
Last year, Aboitiz Power bagged the Tiwi-Makban geothermal plants, which recorded a peak generation output of 467 megawatts in 2009; two 100-MW bunker-fired power barges; and the independent power producer administrator contract for the 700-MW Pagbilao coal-fired plant. These assets accounted for more than 90% of the firm’s power generation portfolio.
Electricity sales recorded by Aboitiz power utilities rose by 9% year-to-date to 2,677 GWh from 2,460 GWh.
Shares in the firm closed at P33.95 apiece yesterday, up by 3%. -- E. N. J. David
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