Aboitiz unit to begin construction of 2 solar power plants

ABO i tiz Renewables i n c.

(AR i), the renewable energy (R e) arm of Aboitiz Power Corp., is scheduled to commence construction of two solar power facilities that will help achieve its goal of adding over 3,000 megawatts (MW) of renewables capacity.

Olongapo solar will be built within an approximate land area of 196 hectares, to be undertaken by a joint venture between Guangdong electric Power Design institute Co., lt D (GeDi) and parent company China energy international Group Co., ltd.

Under the agreement, the two groups will jointly undertake the construction, operation, and maintenance of the 88-kilometer-long toll road projects. to gether, the projects will require an investment of P72 billion.

t h e CB e X will establish a “crucial link” that will connect the s i lang (Aguinaldo) i n terchange of the Cavite- l a guna e x pressway (Calax) to n a sugbu, Batangas. t h e n B e X , meanwhile, will connect n a sugbu and Bauan in Batangas, via the townships of s il ang, Amadeo, ta gaytay, i n dang, Mendez, and Alfonso in Cavite before crossing into n a sugbu and finally reaching Bauan, Batangas.

“Our shared commitment to to gether with s M C, we envisage a future where our CB e X a nd n B e X can help pave the way for connectivity and economic growth in the Calabarzon region.

We look forward to leveraging on our respective strengths for the realization of this vital infrastructure project,” said MP t C C hairman Manuel v Pangilinan.

MP t C proposed in 2018 the construction of the 50.4-kilometer Cavite-ta gaytay-Batangas e x pressway (C t B e X ) to the De-

FDC H1 income surges to ₧3.9B

Filinvest Development Corp. (FDC), the holding firm of the Gotianun Group, on tuesday said its attributable income in the first half jumped 77 percent to P3.9 billion from the previous year’s P2.2 billion.

Revenues grew 29 percent to P42.5 billion from the previous year’s P33.1 billion.

t he company said its total revenues and other income in the first six months of 2023 already equaled the P41.6 billion it generated in the first half of 2019.

“We are very encouraged by the continued recovery of our businesses. We look forward to sustaining our growth momentum for the balance of the year. We are working to make the businesses and the entire organization even stronger under the leadership of newly appointed executives in the business units and FDC, the parent company,” FDC President and CeO Chiqui A. Huang said. t he company said it saw a 41-percent increase in its banking business, 9 percent in real estate, 24 percent in power, 36 percent in sugar and 61 percent in hospitality. t he increases reflected mainly the continued recovery of the businesses over prior periods which were adversely affected by the pandemic, the company said. t he recurring revenues of its real estate segment expanded by 16 percent year-on-year, or by P504.7 million, with the improvement in mall leasing. VG Cabuag sMC and MP t C said the signing of the agreement signals the cooperation between the two groups “to ensure a sustainable and responsible development that aligns with the country’s infrastructure goals.” i t should be noted that the implementation of the transaction is still subject to the completion of certain conditions, including the execution and procurement of relevant approvals and the execution of definitive agreements. t h e two groups are the leading toll road operators in the Philippines.

Revenues from eastWest Bank surged by 32 percent to P3.8 billion, driven by higher interest income from loans this year.

AR i will build the 172.7-MW peak solar power project in Calatrava, negros Occidental. it is expected to export electricity to the grid via the Calatrava substation as soon as December 2024. Construction will commence in september within an approximate land area of 143 hectares. it will be undertaken by sUMeC Complete equipment and engineering Co. ltd., the same firm currently completing the 159 MWp laoag solar Project of Pv sinag inc. Meanwhile, AR i will also build the 211-MW peak solar power project in Olongapo, za mbales, by far its largest solar project. Construction of the project will also start in september and will be commercially operational by september 2025 to provide electricity through the Castillejos substation.

“We are looking to begin the construction of our Calatrava solar and Olongapo solar projects this year on the way to achieving our growth strategy of providing an additional 3,700 megawatts of renewable energy by the next decade,” said AboitizPower President emmanuel Rubio. t his brings the total number of Aboitiz Power solar projects to 5, including sa n Carlos sun Power inc. in negros Occidental and the l aoag and Cayanga solar projects in Pangasinan. At present, the company has a pipeline of close to 1,000MW of R e projects, including developing wind and solar farms throughout the country, as well as geothermal. in the next 10 years, AR i aims to have a total of 4,600MW of clean energy and a 50:50 balance between its renewable and thermal capacities. Lenie