• Aseagas extends biomass plant shutdown


    ABOITIZ Power Corp. said its wholly-owned subsidiary, Aseagas Corp., was keeping its 8.8-megawatt (MW) biomass power plant in Lian, Batangas on shutdown as the company continued to assess technical problems.

    The Lian plant temporarily ceased operations on November 24 due to the unavailability of supply of organic effluent wastewater from Absolut Distillers, Inc.

    “This continued shutdown will allow us to look at our options, taking into consideration the interests of all our stakeholders,” AboitizPower President and Chief Operating Officer Antonio Moraza said in a statement.

    Despite the shutdown of the plant, Moraza said the company is on track to meet its 4,000-MW net attributable capacity target by 2020.

    “Despite these challenges, our other projects are progressing as planned. About 500 MW of attributable capacity, mainly from baseload and hydropower plants, will come online in 2018,” he added.

    In the same statement, Aseagas said it has prepaid its outstanding loan worth P2.37 billion with the Development Bank of the Philippines. Aseagas also invested equity of around P950 million for the biomass plant, and has around P460 million in outstanding liabilities.

    Aseagas is a wholly-owned subsidiary of AboitizPower through Aboitiz Renewables, Inc., which holds its investments in renewable energy.


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