Aboitiz Power Corp. is ramping up its renewable energy (RE) and battery storage development pipeline with plans to add over 400 megawatts (MW) of capacity by 2026, in a move that underscores the company’s long-term growth strategy and commitment to energy transition.
The company said that 359.5 MW of renewable energy and 48 MW of battery energy storage systems (BESS) are currently under developmente. These include major projects such as the 212 MW Olongapo and 89 MW San Manuel solar farms, the 58.5 MW Camarines Sur wind project, and BESS installations in Bay (20 MW), Magat (8 MW), and Binga (20 MW).
“This investment pipeline is a significant part of our transition strategy, aligning with our goal of balancing reliability and sustainability,” said Aboitiz Power president and CEO Danel Aboitiz during a virtual media briefing on Monday.
For 2025, Aboitiz Power and its partners have set a capital expenditure (capex) budget of ₱78.1 billion, following a 2024 deployment of ₱26.6 billion. While lower than the initially allocated ₱73 billion, the 2024 figure was impacted by delays in permitting, right-of-way access, and land acquisition—external challenges the firm continues to navigate.
The lion’s share of next year’s capex remains earmarked for renewable energy projects, with the rest allocated to maintaining thermal base load plants and investing in distribution infrastructure, including substations and metering systems.
This new build-out contributes to Aboitiz Power’s broader strategy to expand its renewable portfolio by 3,600 MW, targeting a total of 4,600 MW in renewable energy by 2030. The company aims to maintain energy security by pairing these with thermal facilities, establishing a 9,200 MW diversified generation portfolio.
The firm’s strong financial footing supports its expansion drive. Aboitiz Power reported a 5 percent year-on-year increase in net income for 2024, reaching ₱33.7 billion, up from ₱32 billion in 2023. This growth was attributed to improved margins in its generation business and stronger energy sales.
The development signals Aboitiz Power’s growing role in shaping the Philippine energy landscape amid rising demand and the global push toward decarbonization.
