Danessa Rivera (The Philippine Star)
- April 23, 2019 - 12:00am
MANILA, Philippines — Aboitiz Power
Corp. is zooming in on solar and wind projects in Vietnam for its overseas
expansion to take advantage of the feed-in tariff (FIT) regime, its top
official said yesterday.
The company continues its efforts to
expand overseas, but its focus now is mainly on Vietnam, AboitizPower president
and CEO Erramon Aboitiz told reporters.
It is currently evaluating “a few
deals” in Vietnam’s renewable energy (RE) sector.
The projects being eyed, which have
a capacity of 50 to 100 megawatts (MW), are already in the permitting stage and
under construction to be able to meet the FIT deadline.
“We have to be ready and running by
that time. Depending on what technology. We have to be able to meet the
2021 timeline,” Aboitiz said.
The company hopes to acquire an RE
project within 2020 if discussions with local developers progress.
“We are looking at several projects
in advanced stages so hopefully we will be able to announce projects soon,” he
said.
AboitizPower earlier said it was
scouting for a partner for possible overseas investments in Indonesia, Vietnam
and Myanmar.
Indonesia and Myanmar have the
potential for several hundreds of megawatts of hydropower projects.
AboitizPower has already gotten a
headstart in Indonesia after it partnered with SN Power and PT Energi
Infranusantara to invest in PT Auriga Energi which will conduct the feasibility
studies for the exploration and development of a potential 127-MW hydropower
generation project along the Lariang River in Central Sulawesi, Indonesia.
In 2015, AboitizPower also looked at
the potential of a greenfield geothermal exploration and development project of
its wholly-owned Singapore-based subsidiary AboitizPower International Pte.
Ltd. (AP Intl) in Ijen, East Java province. But it decided to exit the project
in 2017.
By 2020, the company is targeting an
energy capacity target of 4,000 MW. If any overseas project materializes, it
will be on top of the 4,000 MW since the company is well off exceeding its
target with the projects being completed at home.
AboitizPower has investments in
various thermal and renewable power generating facilities with a total net
sellable capacity of 3,350 MW with its partners. Its Cleanergy brand amounts to
1,272 MW, 39 percent of its total net sellable capacity.
Once it completes its ongoing
projects, the company will have a capacity of 4,500 MW.
AboitizPower also owns distribution
utilities that operate in high-growth areas in Luzon, Visayas, and Mindanao,
including the second and third largest private utilities in the country.
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