ABOITIZ Power Corp. (AboitizPower) has allocated P78.1 billion in capital expenditures (capex) for 2025, with 66% earmarked for its renewable energy portfolio.
“This reflects the company’s thrust to expand its clean energy capacity to 4,600 MW (megawatts),” AboitizPower said in a statement on Thursday.
The latest capex represents an increase from the P73 billion allocated last year as the company accelerates its investments in energy infrastructure.
“We have [several] new projects coming in, so that’s new capacity,” AboitizPower President and Chief Executive Officer Danel Aboitiz said.
“We’ve been able to contract a good portion of our portfolio to shield us from those low WESM (Wholesale Electricity Spot Market) prices. So, AP (AboitizPower) should be okay,” he added.
AboitizPower is also advancing the expansion of Davao Light and Power Co., Inc. (DLPC), the country’s third-largest power distribution utility by customer base and annual kilowatt-hour sales.
DLPC holds a legislative franchise to develop, operate, and maintain the power system in Davao City, Panabo City, and the municipalities of Carmen, Dujali, and Santo Tomas in Davao del Norte for 25 years.
Pending legislative measures seek to expand DLPC’s service area to include Tagum City, Samal Island, and the municipalities of Asuncion, Kapalong, New Corella, San Isidro, and Talaingod in Davao del Norte, along with Maco in Davao de Oro.
AboitizPower serves as the Aboitiz Group’s investment vehicle for power generation, distribution, and retail electricity, as well as related energy solutions.
In 2024, the company’s net income rose 2% to P33.9 billion from P33.1 billion the previous year, driven by increased energy sales.
Residential energy sales climbed 13%, while commercial and industrial demand grew by 5%.
“AboitizPower intends to build on this momentum, and we are excited to develop the next wave of renewable energy projects in 2025 and beyond,” said AboitizPower Chief Finance Officer Sandro Aboitiz. — Sheldeen Joy Talavera
