Aboitiz Announces Billions for Power Projects

19 May 2009 (Last Updated May 19th, 2009 18:30)

Renewable energy generator and distributor Aboitiz Power and its partner companies have announced a capital expenditure of about PHP44bn for power projects in 2009. Aboitiz is investing PHP33bn for the ongoing construction, rehabilitation and expansion of its geothermal, hydro and coal-fi

Renewable energy generator and distributor Aboitiz Power and its partner companies have announced a capital expenditure of about PHP44bn for power projects in 2009.

Aboitiz is investing PHP33bn for the ongoing construction, rehabilitation and expansion of its geothermal, hydro and coal-fired power plants in different areas of the Philippines.

About PHP26bn of the PHP33bn will be allotted for renewable power plants.

These included the Ambuklao and Binga hydro power plants in Benguet province, the Tiwi-Makban geothermal power stations in the provinces of Albay and Laguna and Sibulan hydro power plant in Davao, which is owned by Aboitiz's subsidiary, Hedcor.

Aboitiz said that the 75MW Ambuklao hydro power plant in Benguet has started its rehabilitation and expansion programme and is expected to be complete in 2010. The programme hopes to increase the power plant's generating capacity to 105MW.

The 100MW Binga power plant also in Benguet will be rehabilitated and expanded to 120MW.

The company will take over Tiwi-Makban geothermal power stations on 26 May.

By staff writer.