AboitizPower inks supply deal with Nickel Asia unit

MANILA, Philippines — The holding company of power-related investments of the Aboitiz Group has expanded its partnership with Emerging Power Inc. (EPI), the renewable arm of Nickel Asia Corp., through a power supply deal that will provide solar energy to AboitizPower’s retail electricity entities.

Under the power supply agreement, EPI subsidiary Jobin SQM Inc. will provide solar power capacity from its recently completed 100-megawatt (MW) Sta. Rita solar power plant in Subic, Zambales to AboitizPower’s retail electricity companies, Aboitiz Energy Solutions Inc. (AESI) and Advent Energy Inc.

The power supply will support the AESI and AdventEnergy’s  growing portfolio.

“We thank EPI for this partnership that puts AboitizPower’s retail business in a stronger position for growth. We also hope to continue strengthening our ties with other industry players to achieve energy security,” AboitizPower senior vice president for commercial operations Sandro Aboitiz said.

AboitizPower’s partnership with EPI started in 2020 after the two companies sealed a deal for EPI to supply power to AboitizPower retail electricity suppliers entities AESI and AdventEnergy.

AboitizPower Retail aims to grow its portfolio of renewable energy supply to cater to its customers.

Overall, AboitizPower is looking to expand its renewable capacities to 4,600 MW or 50 percent of its energy portfolio by 2030.

The company is looking to spend P190 billion within this decade for the additional 3,700 MW of clean energy capacities.

It has over 1,000 MW of disclosed and ongoing renewable projects, which include solar, floating solar, hydro, and onshore wind.

AboitizPower recently announced that it signed a memorandum of understanding to lead a Philippines-Japan consortium that would explore the development of technology and an integrated system for potential projects in the field of renewable energy.

It is also partnering with JERA Co. Inc., Japan’s largest power generation company, to jointly assess the potential for greener fuels.