THE Court of Appeals (CA) has given the Energy Regulatory Commission (ERC) the go signal to hear and resolve anti competitive behavior and other unfair trade and practices against power distributor Manila Electric Co. (Meralco) and the subsidiaries of power firm Aboitiz Power Corp. in connection with the shutdown of the Malampaya gas facility, which affected…
Tag: Aboitiz Power
Aboitiz Power to electrify Walter Mart malls
Community mall pioneer Walter Mart has teamed up with Aboitiz Power Corp. to power up its new malls under the Retail Competition and Open Access (RCOA) regime. Aboitiz Power and Walter Mart have signed a 4.7-megawatt (MW) power supply deal for its mall expansion this year. This year, Walter Mart is set to open branches…
AboitizPower pursues hydro projects in Indonesia, Myanmar
Aboitiz Power Corp. is pursuing hydropower ventures in Indonesia and Myanmar as it looks to expand its business in Southeast Asia amid the oversupply situation in the Philippines, its top official said yesterday. The two countries have the potential for several hundreds of megawatts of hydropower projects which will be the company’s focus for its…
AboitizPower adding 800 MW to balance generation portfolio
Aboitiz Power Corp. is completing over 800 megawatts (MW) of power projects this year – from renewable energy developments to coal-fired power plants – as it pursues to balance its energy portfolio by 2020. The company is set to complete five projects with a total capacity of 828.3 MW this year which underlines the company’s…
Hedcor seeks IP consent for Benguet hydro plant
Hedcor Inc., a unit of Aboitiz Power Corp., is securing the approval of the indigenous people (IP) to put up the 45-megawatt (MW) Kabayan run-of-river power project in Benguet. Hedcor is currently undergoing Free Prior and Informed Consent (PFIC) process – led by the National Commission on Indigenous Peoples (NCIP) – for the proposed 45-MW…
RP Energy inks contracts for Subic coal power plant
Redondo Peninsula Energy Inc. (RP Energy) has sealed construction and supply contracts with a local company and a Korean firm to build its 2×300-megawatt (MW) coal-fired power plant in Subic, Zambales. RP Energy signed a construction contract with Azul Torre Construction Inc. and a supply contract with Korean firm Doosan Heavy Industries & Construction Co….
AboitizPower sees oversupply in Mindanao
ABOITIZ Power Corp. has joined the chorus of generation companies that expect an oversupply of electricity in Mindanao starting this year and possibly extending into the next five years as new power plants come on-stream on the southern island. “The oversupply in Mindanao is actually serious, it’s huge. Mindanao has a peak requirement of about…
SNAP-Magat raising P19 B notes
SN Aboitiz Power-Magat Inc. (SNAP-Magat), a unit of Aboitiz Power Corp., is raising P19 billion from corporate notes with two local banks to pay off debts and finance general corporate purposes. AboitizPower disclosed yesterday SNAP-Magat has signed a notes facility agreement Bank of the Philippine Islands (BPI) and China Banking Corp. to issue P19-billion fixed…
AboitizPower invests $1.2 B in 2 Bataan plants
The Aboitiz Group is acquiring beneficial interests from Blackstone Group-affiliated investment funds in two GNPower coal-fired power plants in Bataan for about $1.2 billion to meet its 4,000-megawatt (MW) capacity target in the next five years. Aboitiz Power Corp. announced yesterday its wholly owned unit Therma Power Inc. has finalized the purchase and sale agreements…
Rains delay P13-B hydro projects in Bukidnon
Construction of the P13-billion twin hydroelectric projects of Hedcor, Inc. is being delayed due to geological conditions and continuous rains, company officials said on Tuesday. Gregorio Jabonilla, Hedcor vice-president for business development, told reporters that the two run-of-river hydro projects have already been delayed for 110 days when their workers encountered problems at their work…
Aboitiz keen on plant auctions
THE ABOITIZ power group is keen on participating in auctions for the remaining power generation assets that the government is planning to privatize within the next three years, its top official said on Wednesday. This comes as the Power Sector Assets and Liabilities Corp. (PSALM) announced that it was targeting to privatize next year the…
AboitizPower blacklisted by Norwegian central bank from pension fund
Due to its heavy usage of coal, Aboitiz Power Corp. has become the only Philippine-based power firm among the companies initially blacklisted by the Norwegian central bank from the Government Pension Fund Global (GPFG). Norges Bank, the Norwegian central bank, excluded 52 companies worldwide, including 22 firms from the United States, seven each from China…
Winnergy Holdings Corp. 