24.5 C

AboitizPower stands firm in 2020, hopeful for 2021

Must read

- Advertisement -

AboitizPower had high hopes for 2020 as it anticipated the realization of its growth strategy over the next decade.

But three months into what AboitizPower thought would be a stellar year, the COVID-19 crisis brought about an unprecedented impact on the power company, forcing it to transition from significantly growing the business to keeping it afloat, and from expanding the organization to making necessary adjustments in its workforce.

Despite all this, AboitizPower remains committed to advancing business and communities by continuing to provide reliable, reasonably priced, and responsibly produced power solutions even in the new normal.

“The year 2020 may not have been what we expected, but it was the year that revealed how resilient we are as an organization, manifested by the group’s successes in spite of the challenges it faced in the last nine months,” AboitizPower President and Chief Executive Officer Emmanuel V. Rubio said.

True to its mantra of business with a purpose, the AboitizPower Group and the Department of Energy (DOE) successfully turned over around P650 million in direct remittances under the Energy Regulations No. (ER) 1-94 program to various host communities across the country as of Dec. 28, 2020.

The ER 1-94 program is a policy under the DOE stipulating that communities hosting power generation plants get a share of one centavo per kilowatt-hour generated by facilities operating in their area.

With a circular from Secretary Alfonso G. Cusi of the DOE covering ER 1-94 funds, host LGUs can also use these shares to help manage the effects of the new virus, in accordance with the Bayanihan to Heal as One Act. This includes the facilitation of mass testing by providing and constructing facilities, as well as acquiring proper medical testing kits.

BEYOND THE HORIZON. Engineers at the baseload facility operated by AboitizPower subsidiary Therma South, Inc. (TSI) in Davao City look toward the horizon, an act symbolic of the AboitizPower Group’s forward-looking mindset in 2021.
BEYOND THE HORIZON. Engineers at the baseload facility operated by AboitizPower subsidiary Therma South, Inc. (TSI) in Davao City look toward the horizon, an act symbolic of the AboitizPower Group’s forward-looking mindset in 2021.

Among the other highlights of 2020 for AboitizPower was the renewal of its pact with First Bay Power Corp. (FBPC) on the supply of Cleanergy, the company’s brand for renewable energy, which will help power the livelihood and development of the municipality of Bauan, Batangas.

This renewed partnership between the two companies signals the start of the delivery of 10 MW of clean power to First Bay from AP Renewables, Inc.’s (APRI) MakBan geothermal facility. This further aligns with the thrust of the Aboitiz Group to grow its Cleanergy portfolio and position itself as a major player in the renewable energy space.

Beyond staying true to its commitment to growing its business and empowering its host communities, AboitizPower also remains steadfast in its drive for operational excellence in 2020. Despite the challenges this year has brought, the organization still bagged several awards and recognitions throughout the year.

AboitizPower won a Silver Stevie Award for its Integrated Response and Awareness towards COVID-19 Hazards (I-REACH) program under the Most Valuable Corporate Response category in the 2020 International Business Awards, underscoring the company’s proactive approach in dealing with the pandemic.

AboitizPower was also recognized for the third year in a row as a constituent company in the FTSE4Good Index Series, which measures the performance of companies demonstrating strong Environmental, Social, and Governance (ESG) practices and is used by a variety of market participants to create and assess responsible investment funds and other products.

On top of these, the holding company Aboitiz Power Corporation also received ISO re-certification from the standards body International Organization for Standardization, further demonstrating the organization’s commitment to operational excellence even amidst the global health crisis.

In the next 10 years, the company is still set on significantly expanding its portfolio of renewable energy power plants and by 2030, its capacity mix will have been transformed into an almost 50:50 Thermal to Cleanergy ratio.

“Our targets in the next decade remain the same. We will continue to pursue a major shift in our energy mix by 2030, but while we remain focused on addressing the country’s energy trilemma of energy security, energy equity, and environmental sustainability, we will be shifting the balance from ensuring low-cost energy to providing energy from more sustainable sources,” Rubio added.

With its balanced mix strategy, AboitizPower is able to provide the country with a reliable and cost-efficient power supply, creating a greener and safer environment for the country and the rest of the world.

- Advertisement -
- Advertisement -

More articles

By Elyssa Lopez, Philippine Center for Investigative Journalism Liquefied natural gas may be a new industry in the local energy sector, but old names are behind the companies bringing the technology to Philippine shores.  Based on proposals submitted to the Department...
Compensation claims as a result of the sunken MT Princess Empress’s massive oil spill in Tablas Strait could surpass those filed in the aftermath of the 2006 sinking of the MT Solar in Guimaras Strait, Quezon City Rep. Marvin...
Four SM Executives led the charge among 100 notable Certified Public Accountants (CPAs) in the country as they were conferred the Centenary Awards of Excellence for their outstanding contributions in the advancement of the accountancy profession. The Centenary Awards of...
- Advertisement -

Latest article

- Advertisement -