Power consumption across the Philippines is seen rising 6.6 percent this year and requires the production of between 600 to 700 megawatts of new electricity, according to estimates by Aboitiz Power Corp.
“This substantial increase in electricity demand underscores the pivotal role of power generation, transmission and distribution companies in meeting this need. This requires significant infrastructure development, including constructing new power plants (both conventional and renewable), expanding the grid to ensure that power reaches demand centers and improving the services, reach and efficiency of our electric cooperatives and distribution units throughout the country,” Aboitiz Power president and CEO Emmanuel Rubio said.
This developed even as he cited “headwinds” in the energy sector this year which can be mitigated by running all sources of power and by being open to all technologies to ensure the uninterrupted provision of electricity.
The challenges expected this year include global supply chain uncertainties attributed to geopolitical events, the risk of unavailable and insufficient transmission infrastructure, and the anticipated effects of El Niño on hydroelectric power plants.
“We continue to advocate for a just, timely, and well-managed energy transition that leaves all options on the table and prioritizes energy security and the alleviation of energy poverty,” Rubio said.
According to him, Aboitiz Power is firm in its commitment to help advance the country’s goal of meeting the 50 percent renewable energy share in the country’s power mix by 2040.
Aboitiz Power looks to spend P190 billion over the next decade to generate an additional 3,700 MW from renewable sources and grow its energy portfolio to 4,600 MW or three times its current capacity.
Around 1,000 MW worth of Aboitiz Power plans in the form of wind solar and geothermal projects are in the pipeline.
This year alone, Aboitiz Power anticipates launching the 17-MW Tiwi binary geothermal power plant in Albay and the 159-MW Laoag solar project in Pangasinan.
A number of projects are also seen to come online by the end of this year to early 2025, including the 44-MW solar plant in Armenia, Tarlac; another 85-MW solar plant in San Manuel, Pangasinan; a 206-MW wind project in San Isidro, Northern Samar in partnership with Vena Energy and Vivant Energy; and the 173-MW solar power project in Calatrava, Negros Occidental.
Aboitiz Power also expects to break ground on a number of renewable energy projects such as the 212-MW solar plant in Olongapo, Zambales; the 50-MW Camarines Sur wind project; and the 102-MW Rizal-Laguna wind project in partnership with Vena Energy.
