Aboitiz Power Corp. expressed interest in participating in the privatization of the Caliraya-Botocan-Kalayaan (CBK) hydropower plants in Lumban, Majayjay and Kalayaan, Laguna this year.
AboitizPower is one of the 29 companies that submitted letters of interest (LOI) for the CBK hydroelectric power plant complex, which comprises three separate facilities with a contracted capacity of 796.64 megawatts and plays a central role in the Luzon power system.
AboitizPower president and chief executive Emmanuel Rubio said the company aimed to sustain the availability and optimal efficiency of its diverse portfolio of power plants, while adding more capacities to this portfolio.
He said AboitizPower believes that maximizing the benefits of technology is essential to achieving energy security that is affordable and sustainable.
AboitizPower expects to complete five renewable energy power plants with total capacity of 684 megawatts (MW) from 2024 to early 2025.
These are the 17-MW binary geothermal power plant in Tiwi, Albay; 159-MW solar plant in Laoag, Pangasinan; 173-MW solar project in Calatrava, Negros Occidental; 44-MW solar plant in Armenia, Tarlac; 85-MW solar plant in San Manuel, Pangasinan; and the 206-MW wind plant in San Isidro, Northern Samar in partnership with Vena Energy and Vivant Energy.
The company earlier said it also expects to break ground on a number of renewable energy projects this year, including the 212-MW solar plant in Olongapo, Zambales; the 50-MW Camarines Sur wind project which won the second round of the Green Energy Auction in July 2023; and the 102-MW Rizal-Laguna Wind Project in partnership with Vena Energy.
AboitizPower has close to 1,000 MW of renewable energy projects in the pipeline and aims to build at least 4,600 MW over the next decade.
It is the holding company for the Aboitiz Group’s investments in power generation, distribution and retail electricity services. It operates hydroelectric, geothermal and solar and coal fired power plants.