ABOITIZ Power Corp. (AboitizPower) is entering the solar rooftop business and has put up a new company that is considering projects in Luzon and Visayas this year, the power generation and distribution company told the stock exchange.
“We have been in the power industry for more than 80 years. This gives us a wealth of knowledge and technical capability that we can share to our customers who want to go into solar,” said AboitizPower President Antonio R. Moraza in a statement.
The new company, named Aboitiz Power Distributed Energy, Inc. or APX, is looking at completing several projects in 2018, “with a target to integrate it closely with the group’s existing open access customers,” the parent company said.
AboitizPower said APX is aimed at further expanding the group’s renewable energy portfolio under its renewable energy brand Cleanergy.
“The positive response from customers affirms our view that distributed energy technology such as rooftop solar complements existing products and services that the AboitizPower group provides,” said APX General Manager Jose Rafael M. Mendoza in a statement.
AboitizPower’s foray into solar energy came in 2016 with its 59-megawatt peak (MWp) San Carlos Sun Power, Inc. (Sacasun) project San Carlos City, Negros Occidental.
The company said it has 1,272 MW of net sellable capacity, together with its partners, through its Cleanergy brand.
AboitizPower’s renewable energy plants include its geothermal, run-of-river hydro, and large hydropower facilities all over the country. The company said it is pushing for a balanced mix strategy by maximizing the Cleanergy brand while taking advantage of the reliability and cost-efficiency of thermal power plants.
APX’s planned integration with AboitizPower’s open access customers comes as competition in the business segment is heightened by the continued suspension of rules that are meant to allow retail electricity suppliers to serve those whose average monthly consumption is 750 kilowatts or less.
In 2017, AboitizPower reported a 2% rise in net income to P20.4 billion, as its bottom line was affected by its decision to halt operations of Aseagas Corp. The company’s core net income grew 13% to P23.3 billion in 2017. — Victor V. Saulon

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