AEV bent on acquiring Chevron geothermal assets

ABOITIZ Power Corporation parent Aboitiz Equity Ventures (AEV) is bent on acquiring the geothermal assets of Chevron in the Philippines and Indonesia as the perfect match to the company’s rising renewable energy (RE) portfolio.

“It’s a perfect marriage in a sense that, as you look at most geothermal projects, they are both steam. So our planning is also integrated—general and administrative costs can be combined—and strategic thinking, moving forward, will also be aligned,” Chief Financial Officer Manuel R. Lozano said in an interview.