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Thursday, March 28, 2024

Aboitiz studies RE as baseload power

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Aboitiz Power Corp. signed an agreement with the International Finance Corp. for a joint study to assess the viability of renewable energy as a source of baseload power to help the company navigate the country’s transition towards a cleaner energy future.

The study seeks to explore a mix of technologies that can potentially displace fossil fuel-based power sources and reduce CO2 emissions from the Philippine energy mix. The move is in support of the government’s target of 35 percent share of renewable energy in the overall generation mix by 2030 and 50 percent by 2040.

“I am pleased to join the representatives of IFC in signing this agreement that aims to take the first few very important steps in this journey of discovery. We eagerly look forward to learning about how we can generate baseload power that is technically and financially feasible and also scalable,” said Aboitiz Power president and chief executive Emmanuel Rubio.

The study includes evaluating hybrid-photovoltaic storage technology and assessing the technical and economic viability of generating power from a combination of different RE sources. Alena Mae S. Flores

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