The joint venture of Aboitiz Power Corp and Statkraft Norfund Power Invest AS of Norway has broken ground for a new hydropower project in the provinces of Ifugao and Isabela.
In a disclosure to the Philippine Stock Exchange, AboitizPower said unit SN Aboitiz Power-Magat Inc (SNAP-Magat) and the National Irrigation Administration have commenced with the improvement of the latter's Maris Reservoir located between the said provinces.
The project aims to increase the storage capacity of the Maris Reservoir, which is used to irrigate nearby farmlands, and use the same for power generation subject to release protocols.
Emmanuel V. Rubio, SNAP president, earlier said the company aims to draw an additional 7 megawatts (MW) from the Maris Reservoir project, which is estimated to cost between $2.5 million and $3.5 million per MW to put up.
Work is scheduled to begin in January for completion by first quarter of 2016.
The Mariz Reservoir project would optimize releases from SNAP-Magat's 380-megawatt (MW) Magat hydropower plant.
Besides the project, the joint venture also plans to expand the Magat plant by another 115 MW once given the go signal by regulators.
The proposed expansion involves the use of the Magat Dam's provision for two additional penstocks or water intake gates; and the installation of a pump storage to generate additional electricity.
- Interaksyon
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Showing posts with label Aboitiz Power. Show all posts
Showing posts with label Aboitiz Power. Show all posts
Tuesday, November 4, 2014
Monday, May 19, 2014
Aboitiz Group eyes power, food ventures abroad
The Aboitiz Group plans to bring its power generation and food businesses outside the Philippines.
In a press briefing today, Aboitiz Equity Ventures Inc (AEV) president Erramon Aboitiz said unit Aboitiz Power Corp is looking at Papua New Guinea and Indonesia for expansion.
"We're looking at different sources. We are looking at geothermal, hydro," Aboitiz said.
The conglomerate is looking at buying into or rehabilitating an operating asset instead of building a power plant from scratch, he said.
“PNG, they have a plant that they are bidding out. I don't know what's happening there right now. We're looking at Indonesia. We are talking to some partners. But so far, we don't have anything firm,” Aboitiz said.
AboitizPower is among the three biggest players in the local power generation space along with the Lopezes and San Miguel Corp.
For its part, Pilmico Foods Corp president Sabin Aboitiz said the food unit of AEV is also eyeing acquisitions as a template for expansion, capitalizing on the opportunities presented by the Asean economic integration.
"We want to expand our markets and not only rely on the Philippines. The flour in Asean is tax-free. They are coming to the country and we need to be able to go to their markets to be able to balance it," he said.
Pilmico completed its first flour shipment to Vietnam last December. It is also opening an office in Indonesia by end-May or early June, after which it will also make its foray to Thailand.
AEV suffered a 29 percent year-on-year decline in earnings to P4.9 billion in the first quarter of the year, dragged by the weakness of its power and banking units.
For this year, AEV is allocating P88 billion for its capital expenditures, higher than the budgeted capex of P59 billion in 2013.
AboitizPower will account for P80 billion of the total spending. It will be earmarked for greenfield and brownfield projects that will increase its power generation capacity by 2,000 megawatts over the next five years.
In a press briefing today, Aboitiz Equity Ventures Inc (AEV) president Erramon Aboitiz said unit Aboitiz Power Corp is looking at Papua New Guinea and Indonesia for expansion.
"We're looking at different sources. We are looking at geothermal, hydro," Aboitiz said.
The conglomerate is looking at buying into or rehabilitating an operating asset instead of building a power plant from scratch, he said.
“PNG, they have a plant that they are bidding out. I don't know what's happening there right now. We're looking at Indonesia. We are talking to some partners. But so far, we don't have anything firm,” Aboitiz said.
AboitizPower is among the three biggest players in the local power generation space along with the Lopezes and San Miguel Corp.
For its part, Pilmico Foods Corp president Sabin Aboitiz said the food unit of AEV is also eyeing acquisitions as a template for expansion, capitalizing on the opportunities presented by the Asean economic integration.
"We want to expand our markets and not only rely on the Philippines. The flour in Asean is tax-free. They are coming to the country and we need to be able to go to their markets to be able to balance it," he said.
Pilmico completed its first flour shipment to Vietnam last December. It is also opening an office in Indonesia by end-May or early June, after which it will also make its foray to Thailand.
AEV suffered a 29 percent year-on-year decline in earnings to P4.9 billion in the first quarter of the year, dragged by the weakness of its power and banking units.
For this year, AEV is allocating P88 billion for its capital expenditures, higher than the budgeted capex of P59 billion in 2013.
AboitizPower will account for P80 billion of the total spending. It will be earmarked for greenfield and brownfield projects that will increase its power generation capacity by 2,000 megawatts over the next five years.
Thursday, April 24, 2014
AboitizPower extends operations of 2 power barges in Mindanao
Aboitiz Power Corp has extended the operations of its power barges in Mindanao, which continues to suffer from a shortage.
In a statement, AboitizPower said subsidiary Therma Marine Inc (TMI) reported that its power barges have been running close to 24 hours on a daily basis.
"We are ensuring our customers we have enough fuel supply to meet the power supply requirements of our customers especially this summer," Therma Marine president and chief operating officer Jovy P. Batiquin said. "We want to be able to respond to our customers when they are in need of additional power supply."
Some 22 electric cooperatives and distribution utilities have power supply contracts with the AboitizPower subsidiary and have called on Therma Marine to fill in the supply gap created by a combination of power plant repairs and precarious water levels in Lake Lanao because of the summer heat.
Although the extended running hours will pull closer the scheduled maintenance schedule of the barges, Batiquin assured customers that the preventive maintenance work will not be scheduled until the Steag State Power coal plant, which is under repair, comes online as announced next month.
Therma Marine's maintenance schedule is based on its operating hours and is a critical activity to prevent the power plant from more damaging unscheduled interruptions.
Therma Marine operates two floating power barges in Maco, Compostela Valley and in Nasipit, Agusan del Norte. The two barges have a combined 200 megawatts.
Used as peaking plants, Therma Marine's barges have been operating lately as more of baseload plants to mitigate Mindanao's power shortage.
- Interaksyon
In a statement, AboitizPower said subsidiary Therma Marine Inc (TMI) reported that its power barges have been running close to 24 hours on a daily basis.
"We are ensuring our customers we have enough fuel supply to meet the power supply requirements of our customers especially this summer," Therma Marine president and chief operating officer Jovy P. Batiquin said. "We want to be able to respond to our customers when they are in need of additional power supply."
Some 22 electric cooperatives and distribution utilities have power supply contracts with the AboitizPower subsidiary and have called on Therma Marine to fill in the supply gap created by a combination of power plant repairs and precarious water levels in Lake Lanao because of the summer heat.
Although the extended running hours will pull closer the scheduled maintenance schedule of the barges, Batiquin assured customers that the preventive maintenance work will not be scheduled until the Steag State Power coal plant, which is under repair, comes online as announced next month.
Therma Marine's maintenance schedule is based on its operating hours and is a critical activity to prevent the power plant from more damaging unscheduled interruptions.
Therma Marine operates two floating power barges in Maco, Compostela Valley and in Nasipit, Agusan del Norte. The two barges have a combined 200 megawatts.
Used as peaking plants, Therma Marine's barges have been operating lately as more of baseload plants to mitigate Mindanao's power shortage.
- Interaksyon
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