{"id":274303,"date":"2020-11-06T03:37:19","date_gmt":"2020-11-06T08:37:19","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=274303"},"modified":"2020-11-06T03:37:19","modified_gmt":"2020-11-06T08:37:19","slug":"aboitizpower-to-expand-re-eyes-gas-venture","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/11\/06\/aboitizpower-to-expand-re-eyes-gas-venture\/","title":{"rendered":"AboitizPower to expand RE, eyes gas venture"},"content":{"rendered":"<figure id=\"attachment_274304\" aria-describedby=\"caption-attachment-274304\" style=\"width: 415px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/11\/1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-274304\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/11\/1.jpg\" alt=\"\" width=\"415\" height=\"260\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/11\/1.jpg 415w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/11\/1-300x188.jpg 300w\" sizes=\"auto, (max-width: 415px) 100vw, 415px\" \/><\/a><figcaption id=\"caption-attachment-274304\" class=\"wp-caption-text\">Aboitiz Power Corporation&#8217;s Makban geothermal power plant (Photo courtesy of AboitizPower via PNA)<\/figcaption><\/figure>\n<div dir=\"auto\"><strong>MANILA<\/strong>\u00a0\u2013 Aboitiz Power Corp. is looking into growing its renewable energy business and also venturing in gas projects in the next 10 years, its president and chief executive officer Emmanuel Rubio said.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cWe\u2019re looking at growing our renewable energy portfolio from what is today around 940 (megawatts) to close to 1800 megawatts,\u201d Rubio said in a virtual media briefing Wednesday evening.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Rubio said AboitizPower has a land bank, a number of hydroelectric power and run-of-river hydropower plants in the pipeline, and also wind projects.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cWe expect that the demand for renewable energy, the physical demand, will come in 2025 instead of 2023 because of the pandemic. The pandemic has lowered the demand a little bit and has delayed the need for the physical capacity for renewable energy,\u201d he said.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Commenting on the Department of Energy\u2019s (DOE) moratorium on the endorsement of greenfield coal projects, Rubio said the firm supports the view of Secretary Alfonso Cusi, noting this step is \u201cin the right direction\u201d.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">On Wednesday, Cusi said his office would issue an advisory to stop the endorsement of greenfield coal projects.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cI think we&#8217;ve mentioned before that we are not going to do any greenfield coal plants moving forward,\u201d Rubio said.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">He added AboitizPower sees improvement in trends in gas, with prices becoming more competitive.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Rubio said it has organized a team to look into gas as a serious option for its baseload strategy.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">\u201cAnd this is something that we are considering for the next 10 years. So given that the Philippines will require baseload capacity is anywhere from 680 to 750 megawatts year on year, so yes, gas is by far our strategy moving forward,\u201d Rubio added.<em><strong>\u00a0<\/strong><\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0\u2013 Aboitiz Power Corp. is looking into growing its renewable energy business and also venturing in gas projects in the &hellip;<\/p>\n","protected":false},"author":44,"featured_media":274304,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-274303","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-kris-crismundo","mauthors-government-of-canada"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/274303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=274303"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/274303\/revisions"}],"predecessor-version":[{"id":274305,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/274303\/revisions\/274305"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/274304"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=274303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=274303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=274303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}