AboitizPower trims capex to P62 billion

ABOITIZ Power Corp. (AboitizPower) has allocated about P62 billion in capital expenditure (capex) for 2026 to fund the rollout of its renewable energy and battery energy storage system (BESS) projects.

“We continue to deploy capital strategically to accelerate our portfolio transition while maintaining grid reliability through our transition and distribution business groups,” AboitizPower President and Chief Executive Officer Danel Aboitiz said in his report.

The budget is lower than the P78.1 billion earmarked for 2025.

The company is preparing to roll out 639.5 megawatts (MW) of projects awarded in the fourth round of the green energy auction last year, as well as 147 MW of renewable energy and BESS capacity currently under construction.

Since 2020, AboitizPower has doubled its attributable net sellable renewable energy capacity to 2.3 gigawatts.

Meanwhile, projects under AboitizPower’s transition business group are underway, including a 30-MW hybrid BESS in Mactan, Cebu, and a 48-MW hybrid BESS in Nasipit, Agusan del Norte.

The company’s net income for the first quarter rose 71% to P7.9 billion, driven by higher electricity sales.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 35% to P20.3 billion, resulting in a 61% rise in core net income to P7.6 billion.

Energy sales from the generation and retail electricity supply segment climbed 30% to 11,243 gigawatt-hours (GWh). Of this total, 9% was sold to the spot market, lower than the 13% recorded in the same period last year.

The distribution business posted a 6% increase in energy sales to 1,707 GWh.

AboitizPower is the leading power producer in the Philippines, with a 23.86% market share as of July 2025, according to the Energy Regulatory Commission. — Sheldeen Joy Talavera