Aboitiz Power Corp., the power generation and distribution unit of the Aboitiz Group, posted a net income of P10.6 billion in the third quarter, a 5 percent gain from the year-earlier period, driven mainly by improved margins from its generation segment.
Aboitiz Power Corp. said its wholly-owned subsidiary, Aboitiz Renewables, Inc., has received confirmation from the Power Sector Assets and Liabilities Management Corp. (PSALM) that the Thunder Consortium has been awarded the sale and privatization of the Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plant Complex.
The power distributor Manila Electric Co. (Meralco) is now compelled to temporarily procure supply from the Wholesale Electricity Spot Market (WESM) as the contracted emergency power supply agreement (EPSA) with Aboitiz Power Corp. worth 300 megawatts (MW) ended on Wednesday.
Aboitiz Foundation and GCash have partnered on the CarbonPH x GForest Project, a five-year initiative to restore 1,200 hectares of forest and coastal areas in Balamban, Cebu, planting one million trees while reviving ecosystems, supporting communities, and strengthening climate resilience.
Movem Electric, Inc., Meralco’s fully owned end-to-end electric mobility provider under Manuel V. Pangilinan, has turned over two all-electric shuttles to Barangay Bel-Air, Makati City.
Alliance Select Foods International Inc. is set to receive a P660-million equity infusion from its parent company as it moves to clean up its accumulated deficit and overhaul its capital structure.
The Malampaya Foundation Inc. (MFI), the social development arm of the Malampaya gas project joint venture, has launched two community-run enterprises in Oriental Mindoro—combining steady livelihoods for local residents with ongoing marine conservation work.