The Philippines, where fossil fuels account for over 75% of electricity production, is transitioning to renewables, aiming for half of built capacity in the coming decades. BloombergNEF’s 2024 Climatescope ranks it as the second-most attractive emerging market for renewable energy investment, highlighting strong clean energy policies and incentives.
Aboitiz Power Corporation (AboitizPower) supports the Philippines’ energy transition by expanding renewable energy while responsibly operating baseload and peaking plants. “The transition is a gradual process,” said Suiee Suarez, Vice President for Corporate Affairs, emphasizing AboitizPower’s focus on reliable power and increasing clean energy capacity.
Fossil fuel power plants cannot be phased out overnight due to a lack of viable alternatives. AboitizPower balances immediate power needs with long-term goals, adopting a strategy that acknowledges current limitations while steadily building a sustainable energy future.
Between 2023 and 2024, AboitizPower added 512 MW of clean energy capacity through diverse projects, including solar farms on non-arable land in Pangasinan and a binary geothermal plant in Albay, showcasing its commitment to expanding its renewable energy portfolio.
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