Overview
Incorporated
in 1998, AboitizPower is a publicly-listed holding company that, through its
Subsidiaries and Affiliates, is a leader in the Philippine power industry and
has interests in a number of privately-owned generation companies and
distribution utilities.
The
Aboitiz Group’s involvement in the power industry began when members of the
Aboitiz family acquired 20% ownership interest in Visayan Electric Company,
Inc. (VECO) in the early 1900s. The Aboitiz Group’s direct and active
involvement in the power distribution industry can be traced to the 1930s
when Aboitiz & Company, Inc. (ACO) acquired Ormoc Electric Light Company
and its accompanying ice plant, Jolo Power Company, and Cotabato Light &
Power Company (Cotabato Light). In July 1946, the Aboitiz Group strengthened
its position in power distribution in Southern Philippines when it acquired
Davao Light & Power Company, Inc. (Davao Light), which is now the third
largest privately-owned electric distribution utility in the Philippines in
terms of customers and annual gigawatt hour (GWh) sales.
In
December 1978, ACO divested its ownership interests in Ormoc Electric Light
Company and Jolo Power Company to allow these companies to be converted into
electric cooperatives, which was the policy being promoted by the government
of former President Ferdinand Marcos. ACO sold these two companies and scaled
down its participation in the power distribution business in order to focus
on the more lucrative franchises held by Cotabato Light, Davao Light and
VECO.
In
response to the Philippines’ pressing need for adequate power supply, the
Aboitiz Group became involved in power generation, becoming a pioneer and
industry leader in hydroelectric energy. In 1978, the Aboitiz Group
incorporated Hydro-Electric Development Corporation (HEDC). HEDC carried out
feasibility studies (including hydrological and geological studies),
hydroelectric power installation and maintenance, and also developed
hydroelectric projects in and around Davao City. On June 26, 1990, the
Aboitiz Group also incorporated Northern Mini-Hydro Corporation (now
Cleanergy, Inc.), which focused on the development of mini-hydroelectric
projects in Benguet province in northern Luzon.
AboitizPower
and its partners produce 3,350 MW of total net sellable capacity, 38-percent
of which comes from its RE power plants all over the country.
Business
Revenue
Contribution of each business segment (in million pesos)
|
2015
|
2016
|
Power
Generation
|
47,137
|
46%
|
51,469
|
48%
|
Power
Distribution
|
41,379
|
41%
|
44,666
|
41%
|
Retail
Electricity Supply
|
12,151
|
12%
|
10,453
|
10%
|
Services
|
991
|
1%
|
1,296
|
1%
|
In
line with its robust growth target of building effective capacity of 4,000 MW
by 2020, boitizPower looks to expanding its portolio of generation assets by
implementing the following projects.
420-MW
Pulverized Coal-Fired Expansion Unit 3 in Pagbilao, Quezon : Parter with TeaM
(Philippines) Energy Corporation (TEPEC), target commercial operation is on
year-end of 2017
340-MW
CFB Coal-Fired Project in Toledo City, Cebu: partnership Garcia Group. Target
commercial operation is first quarter of 2018.
68.8-MW
Manolo Fortich Hydropower Plant in Bukidnon: expected to be completed by the
third quarter of 2017.
668-MW
Supercritical Coal-Fired GN Power Dinginin Unit 1 in Bataan: joint venture
with AC Energy. Estimated completion is in 2019.
660-MW
CFB Coal-Fired Power Plant in Subic: RP Energy, a joint venture between
Meralco Power Generation Corp, and TCIC, expected commercial operation by
2020.
390-MW
Alimit Hydropower Complex in Ifugao: permit securing stage now.
Hydro
in Indonesia: feasibility study stage.
Business
Development
2018: Aboitiz Power
International Pte. Ltd. (“AP International”) acquired the rest 40% stake of
59 MW solar project of San Carlos Solar Power, Inc from SunEdison
Philippines.
Subsidiaries /
Associates / Affiliates / Joint Ventures
Power Generation
Therma Power, Inc. (TPI) is a holding
company for group’s non-renewable energy.
Aboitiz Renewables, Inc. (ARI) is a
holding company for group’s renewal energy.
Luzon Hydro Corporation (LHC) is a
joint venture with Pacific Hydro of Austrailia.
SN Aboitiz Power (SNAP), a joint venture
with SN Power of Norway, operates several large hydro power plants such as
Magat (360MW), Ambuklao (105MW) and Binga (140MW).
Hedcor, Inc. (Hedcor), a wholly owned
Subsidiary of ARI, has interest in many companies like Manila-Oslo Renewale Enterprise (MORE) operates 22
hydropower plants and supplies 185MW.
AP Renewables, Inc. (APRI, 100% by ARI) is one of the
country’s leading renewable power companies. Acquired geothermal facilities
with a total potential capacity of 693.2 MW from PSALM (Power Sector Assets
and Liabilities Management Corp, a state owned company).
San Carlos Sun Power Inc. (Sacasun, 100%) operates 59MW solar power plant.
Aseagas Corporation (Aseagas) operates
8.8MW biomass power plant.
Therma Luzon, Inc. (TLI) operates 700MW
coal plant.
Therma South, Inc. (TSI) operates 130MW
coal plant.
Therma Visayas, Inc. (TVI) operates 340MW
coal plant.
STEAG State Power Inc. (STEAG Power) operates 232MW coal plant.
GNPower Mariveles Coal Plant Ltd. Co., partnered with AC Energy and TPI, operates 2x315MW coal plants.
GNPower Dinginin Ltd. Co. (GNPower Dinginin or GNPD) operates 2x668MW coal plants.
Pagbilao Energy Corporation (PEC), a joint venture with Team Philippines Energy corp., operates a 420 MW
coal plant.
There are more AP’s power generation companies
which are not listed here.
Power Distribution
Visayan Electric Company, Inc. (VECO, 55.26%) is the second largest distribution utility. It covers Cebu, Mandaue,
Talisay, Naga and other cities.
Davao Light & Power Company, Inc. (Davao Light, 99.93%) Davao
Light is the third largest privately-owned electric distribution utility in
the country in terms of customers and annual kWh sales.
Cotabato Light and Power Company (Cotabato Light)
San Fernando Electric Light & Power Co., Inc. (SFELAPCO)
Subic EnerZone Corporation (SEZ)
Mactan Enerzone Corporation (MEZ)
Balamban Enerzone Corporation (BEZ)
Lima Enerzone Corporation (Lima Enerzone)
Retail
and Other related services
Aboitiz Energy Solutions, Inc. (AESI) was
granted a license to act as a RES.
Prism Energy, Inc. (Prism Energy)
Adventenergy, Inc. (AdventEnergy)
SN Aboitiz Power – Res, Inc. (SN Aboitiz Power)
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