Aboitiz Power President and CEO Emmanuel Rubio said that the company delivered an impressive performance for the first quarter of 2023, recording Php 7.53 Billion net income, a 160 % jump from the Php 2.89 billion income for the same period last year, which enforces Aboitiz’s critical role in helping fuel the nations development through reliable and responsible power.
CEO Rubia said that, the increase was attributed to the fresh contribution from the GNPower Dinginin Ltd. Power Plant in Bataan. Aboitiz Power stressed that they are keen on bringing its renewable energy portpolio to 4,600MW of net attributable capacity by 2030, as part of its goal to achieve 50.50 balance in its renewable and thermal portfolio.
In fact, they are now currently working on its,94MW-peak Cayanga Solar Project, a 159MW-peal Laoag Solar Project both in Pangasinan and is constructing its 24MW Magat battery energy storage in San Ramon, Isabela.
Aboitiz Power added that they believe that there is no single technology that completely addresses the country’s energy requirements and that to address the deficiency, a mix of power generation technologies are necessary.