AboitizPower seeks more Cleanergy customers

By Lenie Lectura -January 8, 2020
from Business Mirror

Aboitiz Power Corp. vowed to sign up more customers that prefer renewable energy.

“We are truly honored to have been chosen as a partner of all these successful businesses and organizations. It is our commitment to continue providing ample, reliable, and reasonably produced power to our customers by maximizing renewable energy for as long as feasible, while at the same time using the reliability and cost-efficiency of fossil-fired power plants,” AboitizPower President and Chief Executive Officer Emmanuel V. Rubio said.

Rubio was referring to the company’s 32 Cleanergy customers in Luzon and Visayas, which accounts for a total of 203 megawatts (MW) of renewable supply.

Cleanergy is the power firm’s brand for clean and renewable energy.

Through its Cleanergy portfolio, AboitizPower and its partners generate a total of 1,242 MW, which is about 27 percent of the company’s net sellable capacity. Its renewable-energy portfolio includes solar, geothermal, run-of-river hydro, and large hydropower facilities all over the country.

Among those being supplied by AboitizPower’s Cleanergy in Luzon and Visayas include green office developer and operator NEO Property Management Inc. (NEO), Nestlé Philippines,  Shangri-La, Asian Development Bank, Draka Philippines, Eton Properties and Unionbank, among others.

The push for Cleanergy is not only driven by large industry players. AboitizPower also provides Cleanergy to Siargao Electric Cooperative (Siarelco), MORE Electric and Power Corp. and other electric cooperatives in Batangas, Zamboanga del Sur, Zamboanga del Norte, Bukidnon, Misamis Occidental and Nueva Ecija.

The company said it recorded P13.5 billion in net income in January to September 2019, 19 percent lower than the P16.7 billion recorded in the same period a year ago.

The power firm posted nonrecurring losses of P220 million versus losses of P1.7 billion in 2018. Without these one-off losses, the company’s core net income in the nine-month period was P13.7 billion, 26 percent lower than the P18.4 billion recorded a year ago.

This was primarily due to the higher volume and cost of purchased power, lower spot market revenues, and lower plant availability, it reported.

Still, Rubio said the company remains confident that it will surpass its 2020 target of 4,000 megawatts of attributable capacity.