Aboitiz Power Corp. will break ground for its 17-megawatt binary geothermal power plant in Tiwi, Albay this month, an executive said over the weekend.
Aboitiz Power president Emmanuel Rubio said the company would remain focused on growing its diversified fleet of assets to help meet power requirements while contributing to the transition toward a robust and sustainable energy system.
He said the Tiwi binary project is one of the company’s primary focuses this year.
Rubio said the company would also start the operations of the 94-MW Cayanga-Bugallon solar power project in Pangasinan by the first quarter.
He said the financial close of the 90-MW Libmanan onshore wind project located in Camarines Sur province was expected to be done by the end of the year.
“As the country will need more power to bounce back post-pandemic, the energy sector must, more than ever, work together to deliver stable and reliable electricity in 2023 and beyond,” Rubio said.
He said the Philippines would require all forms of energy, including new and more advanced power generation technologies, to reap the benefits of a thriving economy.
“We are pleased that our 1,336-MW GNPower Dinginin, the newest addition to Aboitiz Power thermal portfolio, has started commercial operations and currently supplies emergency power service to Meralco until Jan. 25, 2023,” he said.
He said the plant would contribute to the delivery of much-needed energy supply, especially in the coming dry season.
“In step with the country’s ambition of having a 35-percent share of renewable energy in the power generation mix by 2030, Aboitiz Power will continue to invest in renewable energy assets this year en route to reaching 4,600 MW by the end of this decade,” Rubio said.
Aboitiz Power has over 1,000 MW of disclosed projects from various indigenous energy sources and is pursuing opportunities to grow its portfolio for solar, hydro, geothermal, wind and battery energy storage systems.