Business

AboitizPower geothermal unit earns fourth IMS certification

In photo: World-class. The MakBan and Tiwi facilities of AboitizPower geothermal business unit, AP Renewables, Inc. (APRI) are among the world’s biggest geothermal power plants, hence, there is a deliberate effort to make sure these remain globally competitive.|   AboitizPower subsidiary AP Renewables, Inc. (APRI) successfully retained its Integrated Management System (IMS) certification, which covers […]

News

AboitizPower continues to energize Marawi

MARAWI City — FOR the second time, Aboitiz Equity Ventures and AboitizPower subsidiary Davao Light and Power Company Inc. (DLPC) donated  electrical equipment worth PhP 1.9 million to Lanao Del Sur Electric Cooperative (LASURECO) to help restore power to the battle-scarred city of Marawi. DLPC Vice President for Engineering Mark Valencia and Assistant Vice President […]

Business

AboitizPower invests in AC Energy’s thermal power company

Aboitiz Power Corporation (AboitizPower) entered into a share purchase agreement with Arlington Mariveles Netherlands Holding BV, an affiliate of AC Energy, Inc. (AC Energy), and a shareholders’ agreement with AC Energy, a wholly-owned subsidiary of Ayala Corporation, for the proposed acquisition of a 49% voting stake and 60% economic stake in AA Thermal, Inc., AC […]

Business

APRI, PGPC sign Geothermal Resources Supply and Services Agreement

AP Renewables, Inc. (APRI) and Philippine Geothermal Production Company, Inc. (PGPC, formerly Philippine Geothermal Inc.), commit to continue the development of clean geothermal energy with the signing of a Geothermal Resources Supply and Services Agreement (GRSSA) today, August 24, for the supply of steam and drilling of new production wells in the Tiwi and MakBan Geothermal Complex, […]

Business

AboitizPower unit launches first rooftop solar project

THE AboitizPower’s new rooftop solar unit recently inaugurated its first project, highlighting its entry into this small-scale market segment while expanding its already diverse Cleanergy portfolio. The new unit, AboitizPower Distributed Energy Inc. (APX), began operating the 100-kilowatt installation on top of the Aboitiz and Co. office in Cebu City in March and has since […]

Business

AboitizPower ends first quarter 2018 with P4 billion profit

THE Aboitiz Power Corporation recorded for the first quarter of 2018 a 9% year-on-year (YoY) decrease in its consolidated net income, from P4.4 billion (bn) to P4.0 bn. The Company recognized non-recurring foreign exchange losses on the revaluation of dollar denominated liabilities amounting to P1.2 bn (versus a non-recurring loss of P577 million (mn) during the first quarter of 2017) resulting […]