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AboitizPower celebrates 10th year on PSE

AP RMT | July 19, 2017
AboitizPower celebrated its 10th anniversary at the Philippine Stock Exchange (PSE) on July 18, focused on pursuing its balanced-mix strategy while riding on the robust economic growth of the country.

AboitizPower CEO Erramon I. Aboitiz said the company is on track to reaching its target of reaching 4,000 MW in attributable capacity by 2020 while maintaining a healthy portfolio of renewable energy facilities.

We will continue to push our balanced mix strategy because we believe that the long-term energy security of the country can be solved by balancing sustainability, accessibility, and reliability of power.

-Erramon I. Aboitiz, CEO, AboitizPower

Around 32% of AboitizPower’s 3,955 MW net sellable capacity, at present, come from its geothermal, hydro, and solar power plants.

On the power distribution front, the company will ride on the healthy economic growth in areas served by Visayan Electric Co., Davao Light and Power, Cotabato Light and several economic zones it serves. Combined, the distribution utilities serve around 900,000 customers.

From an IPO price of PHP5.80 in 2007, AboitizPower shares grew in value six times to Php 40.05 per share. This translates to a 28-percent total return to shareholders compounded annually. Its dividend policy of paying out half of the annual net income is one of the highest dividend yields in the PSE.

“We will remain strategic yet disciplined in our approach towards achieving our growth goals, always mindful of our role in nation-building,” Aboitiz said.

The Aboitiz Group’s investments in the power industry started in the early 1900s when it invested in small utilities like Jolo Power and Ormoc Power. It later acquired Davao Light and Power, Cotabato Light and Power, as well as Visayan Electric Company. It further expanded after the passage of the EPIRA Law in 2001.

The company built its first power plant, the 1.2-MW Irisan 3, in 1990 through subsidiary Hedcor.

In the next 12 months, the company is set to add more capacity to its balanced portfolio, including the 69-MW Manolo Fortich and 8-MW Maris Canal hydro power plants, as well as the 400-MW Pagbilao 3 and 340-MW Therma Visayas Inc. thermal power plants.