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The Philippines, where fossil fuels account for over 75% of electricity production, is transitioning to renewables, aiming for half of built capacity in the coming decades. BloombergNEF’s 2024 Climatescope ranks it as the second-most attractive emerging market for renewable energy investment, highlighting strong clean energy policies and incentives. Aboitiz Power Corporation (AboitizPower) supports the Philippines’ energy transition by expanding renewable energy while responsibly operating baseload and peaking plants. “The transition is a gradual process,” said Suiee Suarez, Vice President for Corporate Affairs, emphasizing AboitizPower’s focus on reliable power and increasing clean energy capacity. Fossil fuel power plants cannot be phased out overnight due to a lack of viable alternatives. AboitizPower balances immediate power needs with long-term goals, adopting a strategy that acknowledges current limitations while steadily building a sustainable energy future. Between 2023 and 2024, AboitizPower added 512 MW of clean energy capacity through diverse projects, including solar farms on non-arable land in Pangasinan and a binary geothermal plant in Albay, showcasing its commitment to expanding its renewable energy portfolio. AboitizPower’s 10-year strategy focuses on diversifying power generation assets, aiming to add 3,600 MW of renewable energy capacity by 2030. “The progress so far, with half a gigawatt of renewables energized, is encouraging,” said Suiee Suarez. This plan aligns with the government’s goal of achieving 35% renewable energy in the national mix by 2030, reflecting AboitizPower’s commitment to driving sustainable growth in the Philippines’ energy sector. Clean energy across the archipelago The company’s recent clean energy achievements showcase a diverse and strategic approach: The 94-MWp solar facility in Cayanga, Bugallon, Pangasinan The 24-MW Magat battery energy storage system in Isabela through SN Aboitiz Power The 159-MWp solar plant in Laoag, Pangasinan The 17-MW binary geothermal power plant in Tiwi, Albay The 45-MWp solar project in Armenia, Tarlac The 173-MWp solar project in Calatrava, Negros Occidental “Each project is part of a larger vision,” said Suiee Suarez, highlighting AboitizPower’s diverse renewable energy investments, including solar, geothermal, energy storage systems, and wind. These varied technologies play critical roles in building a sustainable energy system for the future. |
