Published
November 1, 2016, 10:01 PM By
Myrna M. Velasco
Aboitiz Power
Corporation will further build up its power generation portfolio next year with
three greenfield power plants coming on stream that will then add roughly 600
megawatts to its attributable capacity.
According to Aboitiz
Power-Oil Business Unit President and Chief Operating Officer Danel C. Aboitiz,
the plants up for commercial commissioning next year would be the 68.8-MW
Manolo Fortich hydropower facility; the 340MW Therma Visayas coal-fired power
plant in Toledo, Cebu; and the 400MW expansion of the Pagbilao coal-fired plant
in Quezon province.
For the Pagbilao
facility, the company’s attributable capacity will be 50-percent or 200
megawatts – as referenced on their equity take in the project. Partner in that
venture is TeaM Energy Philippines, a joint venture of Japanese firms Tokyo
Electric Power Company (TEPCO) and Marubeni Corporation.
What motivates the
company at this point, Aboitiz said is clinching their 4,000 megawatts capacity
in the next four years – that could be brought in by capacities from ‘new
builds’ and acquisitions. The company is now ranked second among the country’s
biggest and deep-pocketed power industry players.
“We are on target to
achieve our 4,000Mw by 2020,” he said, emphasizing that their attributable
capacity at present now hovers at 2,577 megawatts, minus yet some acquisitions
that are pending approval – in particular, the GNPower assets.
With next year’s
capacity summation, the company’s portfolio will already be at close to 3,200
megawatts including the 8.8-MW Aseagas biomass that is currently undergoing
commissioning.
Top line and
profitability impacts of the anticipated sizeable capacity additions will be
substantially felt around 2018 yet, Aboitiz Equity Ventures Chief Finance
Officer Manuel Lozano said.
Beyond beefed up
domestic capacity, Aboitiz Power is still not resting easy on expansion plans –
with its investment target now focused overseas.
“We are looking at
countries for strategic opportunities – Vietnam, Indonesia and Myanmar…at the
moment, what we have in the pipeline for 4,000 megawatts does not include
international targets,” Aboitiz said.
He qualified though
that there is nothing specific on blueprint yet for Vietnam and Myanmar. For
Indonesia, Aboitiz Power is set on having geothermal as take-off point on
offshore venture especially if they win the bid on the geothermal assets of
American energy giant Chevron Corporation in that jurisdiction.
“We haven’t established
the particular numbers yet,” Aboitiz said, when asked on a viable capacity that
could merit capital outlay for them in these Southeast Asian markets.
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