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.
Nestlé Philippines has committed nearly P500 million to expand its manufacturing facility for Chuckie chocolate drink in Tanauan City, Batangas, marking a major move to scale up output and respond to rising consumer demand.
Filinvest Group has rolled out two key energy efficiency initiatives: an EV charging station at Festival Mall in Muntinlupa City, and broader availability of its high-efficiency district cooling systems for companies outside its portfolio.
The Department of Agriculture (DA) and Department of Agrarian Reform (DAR) are rolling out urgent financing and recovery measures to help farmers and fisherfolk overcome hardships brought by recent habagat and typhoons.