MANILA, Philippines — Aboitiz Power Corp. is looking to expand further into the distributed energy space as part of its thrust to deepen its renewable energy portfolio under its Cleanergy brand.
“We believe there’s going to be an opportunity with that given developments in solar, energy storage,” AboitizPower COO Emmanuel Rubio told The STAR.
“That’s something I’m sure that will take more time, but we want to be in that space. We’re also into distribution so we might as well have that capacity as well,” he said.
Rubio said expansion in the distributed energy space would be done through newly-formed subsidiary Aboitiz Power Distributed Energy Inc. (APX).
In the meantime, APX is finalizing deals for its solar rooftop business to jumpstart an aggressive expansion in that space, Rubio said.
The new subsidiary has a number of targets and projects in the pipeline. “We are already coming out. We’re just finalizing the deals,” he said.
It is targeting to integrate it closely with the group’s existing customers under the retail competition and open access (RCOA).
Initially, APX started with projects within the Aboitiz franchise.
“We’ve signed up with The Outlets at Lipa. Also, our office in Cebu is also contracted,” Rubio said.
A project of AboitizLand, The Outlets at Lipa is touted as the biggest outlet shopping stop in Luzon located within the Lima Technology Center in Lipa-Malvar Batangas.
AboitizPower has a wide portfolio of renewable energy plants under Cleanergy including its geothermal, run-of-river hydro, and large hydropower facilities all over the country, helping energize economic opportunities in its host communities while further advancing its business portfolio.
The firm first entered the solar power market in 2016 with its 69-megawatt peak (MWp) San Carlos Sun (Sacasun) project in San Carlos City, Negros Occidental.
AboitizPower has investments in various thermal and renewable power generating facilities with a total net sellable capacity of 3,350 MW with its partner
It’s Cleanergy brand amounts to 1,272 MW, 39 percent of its total net sellable capacity.
The company is pushing for a balanced mix strategy—maximizing Cleanergy, while taking advantage of the reliability and cost-efficiency of thermal power plants.
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.