Aboitiz group to invest P170B in power projects

WITH the continued rise in demand for power around the country including Cebu, Aboitiz group will pour in at least P170 billion in investments within the next four year for added generation capacity.

This is what Aboitiz Equity Ventures president and chief executive officer Erramon I. Aboitiz during the opening of last week’s annual Christmas party for the media held at the Cebu City Marriot Hotel.

POWER GENERATION

According to Aboitiz, they will put in more investments for additional power generation capacity both in “greenfield” or new projects and “brownfield” or those that they develop in abandoned or already unused old projects in the country.

“AboitizPower will continue to spearhead the group’s future growth. Together with our partners, we’re investing some P170 billion in the next four years into additional generation capacity for several greenfield and brownfield projects of both hydro and clean coal technology,” said Aboitiz.

Aboitiz also said that they are continuously improving their distribution network through Visayan Electric Company (VECO) and is now ready for the “open access” when it will be fully implemented./Reporter Aileen Garcia-Yap