Aboitiz Power

Company description

Aboitiz Power Corporation (AP) was incorporated on February 13, 1998 as a holding company for the Aboitiz Group's investments in power generation and distribution. However, in order to prepare for growth in the power generation industry, AP was repositioned in the third quarter of 2003 as a holding company that owned only power generation assets. The divestment by AP of its power distribution assets was achieved through a property dividend declaration in the form of AP's ownership interests in the different power distribution companies. In 2005, AP consolidated its investments in mini-hydroelectric plants in a single company by transferring all of Hydro Electric Development Corporation's and Cleanergy, Inc.'s mini-hydroelectric assets into Hedcor, Inc.

Ownership in AP was opened to the public through an initial public offering of its common shares in July 2007. Since its incorporation, the Company has accumulated interests in both renewable and non-renewable generation plants. Among AP's subsidiaries include Aboitiz Renewables, Inc.; SN Aboitiz Power-Magat Inc.; Luzon Hydro Corporation; and Therma Power, Inc. The Company also has interests in distribution utilities and retail electricity suppliers.

As of December 31, 2014, Aboitiz Equity Ventures, Inc. owns 76.88% of the Company.

 

Company details

City:
Manila
Address:
NAC Tower, 32nd Street, Bonifacio Global City, Taguig City, Metro Manila

Participation in projects

Projects Transactions
List of the updates in which the company was involved

Company updates

  • February 13, 2023

    JERA, Aboitiz Power to explore ammonia co-firing in the Philippines

    JERA Co., Inc. and Aboitiz Power Corporation have signed a memorandum of understanding (MOU) to launch a collaborative study on ammonia co-firing for the decarbonization of Aboitiz's operations in the...

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  • August 12, 2022

    AboitizPower plans to develop 3 GW offshore wind assets in the Philippine

    Aboitiz Renewables Inc., a renewable energy unit of Aboitiz Power Corp., has been awarded a grant by the United States Trade and Development Agency to conduct a feasibility study for the pot...

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  • August 12, 2022

    AboitizPower secures long-term PPA with SM Prime

    Aboitiz Power Corporation (AboitizPower) has signed a long-term Cleanergy deal with SM Prime Holdings, Inc. in an effort to promote a more environmentally responsible future for the Philippines. ...

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  • June 02, 2022

    Aboitiz Power selects EPC contractor for 159 MW solar projects in Philippines

    Hansei Corporation and Sumec have been selected to deliver the engineering, procurement, and construction (EPC) contract for the development of the 159 MWp solar photovoltaic projects in the...

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  • April 08, 2022

    Scatec, Aboitiz Power take final investment decision on 20 MW Magat battery energy storage system in Ramon

    SN Aboitiz Power Group (SNAP), a joint venture between Scatec and Aboitiz Power, has signed construction and financing agreements for the development of its 20 MW battery energy storage system (BESS)...

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  • October 14, 2021

    Nexif, SN Aboitiz sign PPA for 75 MWp Calabanga solar project in Camarines Sur

    Nexif Energy has signed a long-term power supply agreement (PSA) with SN Aboitiz Power (SNAP) for its maiden solar farm in the Philippines. SNAP is a joint venture between Aboitiz Power Corporati...

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  • September 30, 2021

    JERA invests in Aboitiz Power

    JERA Co., Inc. has decided to acquire 27% of the outstanding shares of Aboitiz Power Corporation, a major power utility in the Philippines, for approximately US$1,58 billion. The company has executed...

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  • August 23, 2021

    Aboitiz Power to energize Davao, Isabela BESS projects in 3 years

    Philippines' Aboitiz Power Corporation is aiming to start the commercial of its two battery energy storage system projects in Davao de Oro and Isabela provinces by 2022 and 2024, respectively. ...

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  • June 04, 2021

    Aboitiz Power to build a 74 MW solar PV project in Cayanga

    Aboitiz Power Corporation (AboitizPower) is planning to build a 74 MW solar power facility located in Cayanga, in the town of Bugallon, about 13 kilometers southwest of the provincial capital of Linga...

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  • March 19, 2021

    AboitizPower adds 49 MW energy storage system in Therma Marine Mobile 1 power plant

    Aboitiz Power Corp. starts the installation of a 49 MW battery energy storage system (BESS) in the floating power plant in Davao region of the Philippines.  Aboitiz Construction is partnering wi...

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