Aboitiz Group president and CEO Sabin Aboitiz says investing in sustainable energy sources benefits the environment and 'also makes good business sense'
AboitizPower is getting the biggest share at P73 billion, or 48% of the group’s total capex. The company has over 1,000 megawatts of renewable energy projects in construction and development, and aims to reach 4,600 MW within the next decade. “Our substantial increase in capital expenditures is a clear reflection of our commitment to renewable energy. We believe that investing in sustainable energy sources is not just good for the environment, but also makes good business sense,” said Aboitiz Group president and chief executive officer Sabin Aboitiz.
The three companies are also acquiring the liquefied natural gas import and regasification terminal of Linseed Field Corporation, for a total venture valued at $3.3 billion, making it the country’s most expansive LNG project.