Aboitiz Power Corporation reported a 41 percent increase in core net income for the first six months of 2026, reaching P18 billion compared to P12.8 billion recorded in the same period last year. The company shared these figures in a disclosure filed with the Philippine Stock Exchange on Wednesday.
The stronger financial performance was mainly driven by higher earnings from its power generation division, fueled by improved rates in the energy market. Additional capacity from the Caliraya-Botocan-Kalayaan hydroelectric complex and newly operational solar facilities also helped boost results. These new solar assets include the 221-megawatt Olongapo plant, the 47-megawatt Armenia facility, and the 93-megawatt San Manuel plant. The contribution from these new sources made up for reduced output from coal-fired power stations during the period.
Total energy sold by the company’s generation business reached 22,764 gigawatt-hours, a 17 percent climb from the 19,440 gigawatt-hours posted in the first half of 2025. Meanwhile, energy sales from its power distribution arm grew 6 percent year-on-year to 3,606 gigawatt-hours from 3,386 gigawatt-hours previously.
In April this year, Aboitiz Power announced that its partners set aside P62 billion in capital spending for 2026, a 47 percent drop from the P117.7 billion invested jointly in 2025. Funds will be directed primarily toward building more renewable energy facilities and battery energy storage systems. The company’s renewable energy portfolio includes 639.5 megawatts of projects secured in the fourth round of the Green Energy Auction held last September, while another 147 megawatts of renewable and battery storage projects are currently being built.
Based on latest data from the Energy Regulatory Commission, Aboitiz Power has the largest share in the country’s power generation sector with 23.86 percent. Under its long-term plan, the group looks to add 3,600 megawatts in new renewable energy capacity and bring its total clean energy output to 4,600 megawatts by 2030. This will be paired with thermal power facilities to meet the country’s steady and peak energy needs, bringing the full portfolio to 9,200 megawatts by the end of the decade. Beyond power generation, the company also runs electricity distribution operations through Davao Light and Power Company and Visayan Electric Company.
