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.
The Philippine Economic Zone Authority (PEZA) is ramping up its European investment drive, courting Polish firms eyeing opportunities in maritime and industrial sectors within its economic zones.
The Philippine government and private sector are accelerating a joint push to position the country as a serious cruise tourism player, with plans for a dedicated cruise terminal in Metro Manila taking center stage.
Cebuana Lhuillier is ramping up its foreign exchange services, aiming to make global currencies more accessible to Filipinos—especially overseas workers and international travelers—while cementing its role as a full-service financial provider.