Despite the tight supply situation in the Luzon grid, plant owner and operator Hedcor Inc. opted to shut down its 70-megawatt Bakun hydropower facility as the host-community ignored an earlier letter from the Department of Energy (DOE) instructing the power firm to continue the operation of its...
Threat of closure of the three generating units of the 70-megawatt Bakun hydropower facility in Benguet province is seen causing ‘added stress’ on Luzon grid power supply, which is already treading on ‘tight margins’ because of forced outages predicaments of some plants. On that premise,...
The Aboitiz Group, together with a coalition of public-private sector partners under the Taskforce T3 (test, trace, treat), has pledged support to the government’s efforts to initiate the vaccination of the A4 priority sector. The commitment was formalized on June 7 through a hybrid event held...
ERC hints ‘pricing play’ The country’s giant power firms have been tagged as the culprits in last week’s rotational brownouts with “forced outages’ of their power plants going beyond the time allowance prescribed by the Energy Regulatory Commission (ERC). In a Congressional hearing on...
Aboitiz Equity Ventures Inc. has firmed up its plan to raise up to P10 billion through the issuance of bonds which have been given the highest triple-A rating by Philippine Rating Services Corporation (PhilRatings). PhilRatings said it has assigned an Issue Credit Rating of PRS Aaa, with a Stable...
Aboitiz Construction on Wednesday, (May 26) announced it has finished the design and construction of Berth no. 4 for Davao International Container Terminal (DICT) in Panabo City, Davao del Norte. Â Â The DICT is one of the most modern ports in the country and the project is an extension of...
Public company Aboitiz Power Corporation is expanding its investment in the solar farm development space with its greenfield 74-megawatt project in Bugallon, Pangasinan. The company disclosed that it already secured approval for the project and is moving into the development stage. The construction...
Japanese firm Mitsubishi Power (Philippines) Inc. has bagged a three-year contract for ‘reliability maintenance work’ aimed at improving the capacity availability at the 300-megawatt Therma South Inc. power plant of Aboitiz Power Corporation. The long term service agreement (LTSA), according to...
Aboitiz Equity Ventures, Inc. (AEV) reported that its Board of Directors has approved the extension of Sabin M. Aboitiz’s term as Group President and CEO by three years. In a disclosure to the Philippine Stock Exchange, the firm said Aboitiz’s retirement will be moved to December 31, 2027 from...
The Aboitiz Group venturing into the data science and artificial intelligence (DSAI) space with the launch of its new subsidiary Aboitiz Data Innovation or ADI. By design, ADI will consolidate the DSAI operating model across the Group and promote a data-driven culture across the organization. Its...
The stock market is seen to continue to be weighed down by the country’s COVID situation while investors will also be taking cues from the April inflation figure and corporate earnings announcements. “Next week, we still see a downward bias for the local market as we expect clouded economic...
The consolidated net income of Aboitiz Power Corporation had climbed by a very significant 200-percent in the first quarter to P6.2 billion from a relatively trimmed bottom line of P2.1 billion in the same period last year. The company said it logged non-recurring losses of P29 million within the...
