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 Department of Energy (DOE) said five renewable energy projects with a combined capacity of 128.9 megawatts (MW) are now operational. This is part of its goal to bring 25 renewable energy and energy storage projects online within the month.
Power semiconductor firm onsemi is looking to deepen its footprint in the Philippines, signaling fresh investment through a brownfield expansion strategy that prioritizes scaling operations in existing facilities.
The country’s fuel supply has improved to an estimated 52.02 days as of April 17, up from 50.31 days the previous week, according to the Department of Energy (DOE).