September 13, 2025 | 12:00am
MANILA, Philippines — Aboitiz Energy Corp., the nation’s main energy producer, has secured P7.4 billion in challenge financing from Ayala-led Financial institution of the Philippine Islands for its photo voltaic farm in Zambales.
The mortgage, signed via Aboitiz Renewables Inc.’s AP Renewable Power Corp., will fund the development, operation and upkeep of the 221-megawatt-peak (MWp) Olongapo Photo voltaic.
The challenge is presently 95 p.c full and stays on schedule for testing and commissioning by the third quarter.
“Olongapo Photo voltaic represents a significant contribution to AboitizPower’s clear vitality portfolio and extra so to reaching the Philippines’ vitality transition targets,” Aboitiz Renewables president Jimmy Villaroman mentioned.
Upon completion, the photo voltaic facility is poised to change into the most important of its form in AboitizPower’s portfolio.
“Each challenge we construct is the product of a extremely motivated group contributing to AboitizPower’s vitality transition effort,” Villaroman mentioned.
Other than the Zambales challenge, Aboitiz Renewables can also be gearing up for the completion of the 92.56-MWp photo voltaic plant in San Manuel, Pangasinan.
An organization official earlier mentioned photo voltaic initiatives could be on the forefront of AboitizPower’s clear vitality enlargement, exploring different potential websites throughout the nation.
At the moment, Aboitiz Renewables owns and operates six photo voltaic belongings with a mixed capability of 532.19 MWp nationwide.
Aboitiz Renewables holds AboitizPower’s investments in renewable vitality initiatives, together with geothermal, massive hydro, run-of-river hydro, wind, battery vitality storage methods and photo voltaic initiatives.
AboitizPower holds the most important market share within the nation’s energy era sector at 23.86 p.c, equal to round 6.77 million in capability, in keeping with the Power Regulatory Fee.
The corporate is the market chief in each Luzon and Mindanao, whereas sustaining a considerable share within the Visayas.
