The Aboitiz group said it is looking for potential power projects and contracts in Mindanao in its bid to expand generating capacity to help improve the power supply in the region.
Erramon Aboitiz, Aboitiz Power Corp. president and chief executive officer, told reporters Thursday that the company is considering a number of power-related projects and contracts to acquire in Mindanao.
“We tend to look at all the power biddings, try to understand them and decide if we want to participate,” Aboitiz said.
Aboitiz said it is interested to bid for some of state-contracted power facilities, including the 92-megawatt (MW) Mt. Apo plant in North Cotabato as its independent power producer administrator (IPPA), and the 210-MW STEAG State Power plant in Misamis Oriental.
“Right now we are studying the Mt. Apo IPPA. I think part of the schedule of PSALM is also to do the STEAG IPPA. We will look at that also,” he said.
The PSALM or Power Sector Assets and Liabilities Management Corp. is putting on the bidding block the Mt. Apo plant on September 24.
In February, PSALM awarded the contract to sell part of the 600-MW Unified Leyte Geothermal Power Plants (ULGPP) to Vivant Corp. and five other energy firms. Through its unit Aboitiz Energy Solutions Inc., AboitizPower won around 40 MW in capacity from the ULGPP.
AbotizPower has alloted P80 billion in capital expenditures (capex) to double its generating capacity to 4,000 MW in five years toward 2017 from 2,000 MW in 2012.
This year, AboitizPower is sourcing its capex from parent firm Aboitiz Equity Ventures Inc.’s P88 billion capex for 2014, which is mostly allotted for power segment expansion.
AboitizPower has other projects underway in the next few years: 14 MW Tudaya I and II hydro plants in Mindanao; and completion of plants due 2015, which include the 13 MW Sabangan hydro plant in Luzon and the 300 MW Therma South baseload plant in Davao.
Also expected to be operational by 2017 are the 420 MW Pagbilao Unit 3 coal-fired plant, the 52 MW Manolo Fortich hydro plant in Bukidnon, and the 300 MW Therma Visayas baseload plant in Cebu.
Earlier, AboitizPower said it is looking at the solar and wind energy sectors to expand its current portfolio. It also plans to expand in Southeast Asian countries to take advantage of the Asean integration next year.
AboitizPower is the power unit of AEV, which is the holding company of the Aboitiz Group of Companies. It has businesses in financial services and portfolio investments (Union Bank); food manufacturing (Pilmico Foods); waste-to-fuel (Aseagas Corp.); and real estate (Aboitiz Land).