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Manila Bulletin devider Business devider The Stock Market devider AboitizPower's subsidiary TPVI completes decommissioning of Naga Power facilities

AboitizPower's subsidiary TPVI completes decommissioning of Naga Power facilities

Published Apr 16, 2025 02:24 am

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Two months after announcing its plans to decommission the Naga Oil-fired power plants, Aboitiz Power Corporation has announced the successful disconnection of the facilities from the grid.

In a disclosure to the Philippine Stock Exchange on Wednesday, April 16, AboitizPower said that its subsidiary, Therma Power-Visayas, Inc. (TPVI), received confirmation from the National Grid Corporation of the Philippines (NGCP) that the TPVI units have been unlinked from the grid.

These units include the TPVI 44.640 megawatts (MW) Naga oil-fired power plant (OFPP) and the 0.440 MW Black Start diesel engine generating unit (BSDEGU), located in Brgy. Colon, Naga City, Cebu.

AboitizPower stated that these oil facilities have been isolated and disconnected from the grid since last March 31.

The shutdown plans, it may be recalled, were pursued due to technical and operational issues stemming from aging diesel engines.

TPVI received a letter of confirmation from the Department of Energy (DOE) last February, clearing the way for the decommissioning of the plants.

The wholly-owned subsidiary acquired the Naga Power Plant Complex from Salcon Power Corporation in July 2018.

Since then, TPVI has rehabilitated, operated, and maintained the facility up until its shutdown.

AboitizPower previously emphasized its commitment to maintaining operations at its existing power plants, developing new energy capacity, and continuing efforts in its distribution and retail units, while also highlighting the importance of integrating more renewable energy projects this year and in the future.

In March, the company announced that the performance of GNPower Dinginin Ltd. Co. (GNPD) contributed to a two percent increase in AboitizPower’s net income, while its core net income saw a five percent rise.

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