AboitizPower remits P40M to Cebu LGUs, villages

By Jordeene B. Lagare – October 1, 2020
from The Manila Times

Aboitiz Power Corp. (AboitizPower) reported on Wednesday that it had remitted P40.6 million to various local government units (LGUs) and villages in Cebu province at end-September for hosting its power plants. In a statement, the power arm of the Aboitiz Group said that of the amount, P15.8 million were remitted to the province and Cebu, Lapu-Lapu and Toledo cities, as well as the host towns in those places. Another P24.8 million from Cebu-based, AboitizPower-led generation companies, accumulated as of 2019, was also remitted by the Department of Energy to the beneficiaries. Bato village in Toledo City, the host beneficiary of Therma Visayas Inc., has almost used up its P4.24-million share after distributing relief goods to 3,200 families and 2,400 households. Meanwhile, Lapu-Lapu City has already used over P750,000 of its share to buy disinfectant for local isolation facilities. AboitizPower shares shaved off 80 centavos or 3.04 percent to close at P25.55 each on Wednesday.