Aboitiz Power adds biomass to portfolio

Aboitiz Power Corp. has added biomass to its renewable energy portfolio after its holding unit fully acquired Aboitiz Equity Ventures Inc.’s liquid bio-methane business for P605 million.

In separate disclosures yesterday, AEV and AboitizPower disclosed yesterday Aboitiz Renewables Inc. completed the acquisition of Aseagas Corp., the project company for the 8.8-megawatt (MW) biomass energy plant which utilizes organic wastes.

Aboitiz Renewables is a wholly-owned unit of AboitizPower, the power investment company of AEV.

The transaction, which amounts to P605 million, marks AboitizPower’s first foray into biomass technology.

Read more here.

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