Aboitiz Power Corp. and its partners have earmarked PHP78.1 billion in capital expenditures for 2025, with 66% allocated to renewable energy projects.
The investment supports the company’s goal of expanding its clean energy portfolio to 4,600 megawatts (MW), reinforcing its commitment to sustainable power generation.
This year’s capital spending follows a similar pattern to 2024, when 72% of AboitizPower’s PHP73 billion investment was devoted to renewables.
The company remains optimistic, projecting growth in both net income and earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2025.
AboitizPower President Danel Aboitiz acknowledged that lower spot market prices—observed since late 2024 and continuing into early 2025—will influence the company’s outlook.
However, he said the trend is a positive indicator for the country.
“Demand growth has been slower than expected in the first quarter. But on the flip side, we have a number of new projects coming in,” Aboitiz said.
“We’ve been able to contract a good portion of our portfolio to shield us from those low WESM prices. So AP should be okay.”
The company expects long-term growth with several major projects set to come online beyond 2025.
Among them is a 100 MW expansion of Davao Light, which is slated for completion next year.
AboitizPower has also finalized a natural gas joint venture with San Miguel Corp. and Meralco.
The deal was closed in January 2025 and is already contributing to the company’s earnings.
