Aboitiz Power Corp. is allocating P24 billion for its 2021 capital expenditures, including investments in coal, battery storage and floating solar, a top executive said Thursday.
“We are looking at P24 billion for existing and new projects like GNPD [GNPower Dinginin], the energy storage projects of TMI [Therma Mobile Inc.], the 49-MW and SNAP’s [SN Aboitiz Power Corp.] 20 MW,” Aboitiz Power president Emmanuel Rubio said in response to questions during the company’s virtual briefing Wednesday night.
“[We are] also allocating capex for the 67-MW floating solar of SNAP in Magat,” Rubio said. SNAP is the joint venture of Aboitiz Power and SN Power of Norway.
Rubio said Aboitiz Power was committed to helping ensure the reliability, affordability and sustainability of the country’s energy system for the long term.
The company, which set a target of 4,000 MW of attributable capacity by 2020, surpassed this with the ownership of GNPower Dinginin, which will serve the country’s baseload demand. Unit 1 of GNPower Dinginin will synchronize by the end of 2020 and will start commercial operations by the second quarter of 2021.