Aboitiz Power Corp. is set to issue a notice to proceed to engineering, procurement and construction (EPC) contractors for 1,000 megawatts of solar projects that will be completed by 2025 to 2026.
AboitizPower outgoing president Emmanuel Rubio said the move is part of the company’s efforts to help secure the country’s power supply in the face of increased demand which resulted in the recent red and yellow alerts in the Luzon and Visayas grids.
“Hopefully by 2030, AboitizPower has at least 4,600 MW of RE,” Rubio said.
He said the recent red and yellow alerts in the power grid occurred because of the El Nino weather phenomenon and aging power plants.
“We really need to make sure we are addressing the demand and making sure we have enough reserves in the grid,” Rubio said.
He said the construction of Excellent Energy Resources Inc.’s natural gas power plant and the continued operations the 1,200 Ilijan power plant in Batangas where AboitizPower has minority stake will also help secure much-needed supply.
AboitizPower plans to build 3,700 MW of new RE capacity on the way to 4,600 MW by 2030, aligned with the government’s target of a 35-percent RE share in the nation’s energy mix by 2030.
This includes projects in solar, geothermal, hydro and soon wind.
AboitizPower is also exploring low-carbon technologies such as liquified natural gas or LNG, nuclear and smart power plants to achieve a balanced portfolio that supports the country’s energy transition while maintaining energy security. Alena Mae S. Flores