Aboitiz unit leads charge in renewable energy transition

The Philippines is witnessing a boost in its power supply, thanks to additional capacity from renewable energy (RE) power plants, as the country moves towards a cleaner energy future.

At the recent Philippine Electric Power Industry Forum 2024 held at the Iloilo Convention Center, Aboitiz Renewables Inc. President Jimmy Villaroman highlighted the company's commitment to supporting this energy transition through various RE projects in the pipeline.

"Our initial expansion phase focuses on developing mostly solar and wind plants with up to 1,200 MW (megawatts) capacity. Currently, we are on track for 176 MW of RE projects to come online by the first half of 2024, with construction ongoing for an additional 218 MW," Villaroman stated during an interview over the weekend.

He further outlined Aboitiz Power Corp.'s plans for the second phase of expansion, which includes an additional capacity of 1,700 MW of solar and wind power. Villaroman emphasized AboitizPower's commitment to building a total of 4,600 MW of renewables capacity by 2030, in alignment with the government's energy transition goals.

As the demand for electricity is projected to increase yearly by 6.6 percent until 2040, with the target of RE share in the energy mix reaching 50 percent by that year, Villaroman stressed the importance of a gradual and intelligent transition.

"Our transition in the Philippines, as in the rest of Asia and the Pacific, must be gradual and intelligent. It has to be well-planned; uniquely suited to each country," Villaroman emphasized.

While acknowledging the need for a shift towards clean energy, Villaroman highlighted the importance of leveraging existing conventional baseload plants to ensure energy security in the medium term, supporting the government's economic growth objectives.

He also lauded the government's efforts in introducing policies such as the Renewable Energy Act and the Green Energy Auction Program, which have facilitated the development of clean energy sources, contributing to a more diverse and secure energy mix.