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 is stepping up efforts to draw manufacturing investments in traditional hubs, pitching a proposed ecozone in Albay as a potential expansion site for Atlantic, Gulf & Pacific Co.
Aboitiz Foods unit Gold Coin Management Holdings Pte. Ltd., has acquired an aquaculture research and development facility in Singapore from Adisseo Asia Pacific Pte. Ltd..
PXP Energy Corp. said its indirect subsidiary has secured the formal effectivity of a new petroleum contract covering a prospective offshore block in Palawan, marking a step forward in its upstream portfolio.