Revenue stream from its Dinginin coal-fired power plant had been the main driver of Aboitiz Power Corporation’s income surge to P17.8 billion in the first half, 79 percent jump from P10 billion in a  comparative period last year. The income surge was largely boosted during the second quarter wherein the company logged consolidated net income of P10.3 billion versus a leaner P7.0 billion in the same April-June stretch last year. “This was primarily due to fresh contributions from GNPower Dinginin Ltd. Co. (GNPD) and higher availability across the company’s portfolio,” Aboitiz Power noted. The Aboitiz group cornered major power supply for the Dinginin plant with power utility giant Manila Electric Company (Meralco) to plug the supply gap voided by the legally-strained power supply agreements (PSAs) of the utility firm. The power firm emphasized that without some one-off items booked in its financial performance, its profit level in the second quarter alone would have topped P10.4 billion. Aboitiz Power President and CEO Emmanuel V. Rubio said “the company had an exceptional performance in the first six months of 2023, driven by fresh contributions of our strategic investments and operational excellence outcomes.” While the company has yet to formally declare completion of greenfield developments in the renewable energy (RE) sector, Rubio claimed, “We remain on track toward achieving a 50:50 balanced mix portfolio by 2030 and continue to focus on providing reliable and innovative power while adapting to dynamic market conditions.” Coal is the technology that currently dominates the power generation portfolio of the Aboitiz group, but it has been aiming to rebalance that with green energy installations by the turn of the decade. In the power generation and retail segment of the company’s business, earnings before interest, taxes, depreciation and amortization (EBITDA) reached P30.2 billion from January to June, escalating by 31-percent from P23.1 billion within the same period last year. It indicated that aggregate capacity sold in the first half climbed 25-percent to 4,718 megawatts (MW) vis-à-vis 3,785 MW in the same six-month duration in 2022. In terms of energy sales, that had gone up 29-percent to 17,736 gigawatt-hours (GWh) within the first semester this 2023 from 13,762 GWh a year ago. On the distribution side of its operations, EBITDA similarly soared 101-percent to P6 billion in this year’s first half from P3.0 billion in 2022. The company qualified that its energy sales to residential, as well as commercial and industrial customers had risen 7.0-percent to 2,983 GWh as against 2,780 GWh within the same timeframe last year.