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 Agriculture (DA) has signed two separate agreements aimed at modernizing the farm sector, increasing farmers’ incomes, and improving food security.
PHINMA Corp. has promoted three senior officials to vice president positions as part of efforts to strengthen its leadership team and support business growth.
FAST Logistics Group is rolling out a suite of income support programs for truck owners and aspiring transport entrepreneurs in Bacolod City, aiming to cushion the impact of rising operating costs while creating more predictable revenue streams.