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MANILA ? Publicly listed Aboitiz Power Corp. wants to either put up or acquire more power facilities over the next five years as it hopes to maximize the allowed capacity granted to a single company.
In the case of Aboitiz Power, it needs to generate an additional 1,400 megawatts (MW) to reach the capacity allowed by law.
APC president and CEO Erramon I. Aboitiz told reporters that should the company decide to put up greenfield power plants, it would have to invest some $2 million per megawatt.
This means that APC may have to pour in a hefty $2.8 billion (roughly P130 billion) to reach its target capacity.
"The country needs the power. And if the opportunities are there, we would like to pursue it," Aboitiz explained.
The company has not identified specific projects with which to build up its generating capacity. However, it has lined up three proposed coal power projects in Subic, Davao and Misamis Oriental, which could generate a combined 600 MW, Aboitiz said.
In Subic, APC has forged a joint venture with Taiwan Cogen International Corp. to form Redondo Peninsula Energy Inc., the vehicle company that will put up a 300-MW clean coal facility in the area. /INQUIRER
