About Us

Aboitiz Power Corporation (AboitizPower, AP) is the holding company for the Aboitiz Group’s investments in power generation, distribution, and retail electricity services. Incorporated in 1998, AboitizPower is a publicly listed holding company that, through its subsidiaries and affiliates, is a leader in the Philippine power industry and has interest in a number of privately-owned generation companies and distribution utilities. Aboitiz Equity Ventures (AEV) currently owns 76.88% of the outstanding capital stock of AboitizPower as of March 27, 2015.

AboitizPower Corporate Video


Vision
& Mission

Vision:
A Better Future

Mission:
We in AboitizPower consider it our responsibility to provide reliable and ample power supply when needed, ensure that the supply of electricity is provided at a reasonable and competitive price, and lastly accomplish the first two duties with the least possible adverse effects on our environment and our host communities.

Core Values

Our Core Values guide every decision we make, every action we take.

Our Core Values of Integrity, Teamwork, Innovation, and Responsibility define who we are and these values drive everything that we do in the organization.

We believe in Integrity, delivering on what we promise. We practice fair process, and are accountable for our actions and consequences.

We believe in Innovation, constantly looking for better ways to provide efficient systems, quality services and products.

We believe in Teamwork, applying a multi-disciplinary approach to achieve our business goals. We work interdependently while promoting cooperation and mutual respect.

We believe in Responsibility, contributing to our nation’s social development, one community at a time, and nurturing and preserving Mother Earth.

Management Directory

Enrique M. Aboitiz
Enrique M. Aboitiz
Chairman of the Board
Jon Ramon Aboitiz
Jon Ramon Aboitiz
Vice Chairman of the Board
Erramon I. Aboitiz
Erramon I. Aboitiz
Director
Antonio R. Moraza
Antonio R. Moraza
Director (Executive)
Jaime Jose Y. Aboitiz
Jaime Jose Y. Aboitiz
Director (Executive)
Mikel A. Aboitiz
Mikel A. Aboitiz
Director (Non-Executive)
Romeo L. Bernardo
Romeo L. Bernardo
Independent Director
Carlos C. Ejercito
Carlos C. Ejercito
Independent Director
Alfonso A. Uy
Alfonso A. Uy
Independent Director
Rene B. Ronquillo
Rene B. Ronquillo
President
Chief Operating Officer
Hedcor Group
Emmanuel V. Rubio
Emmanuel V. Rubio
President
Chief Executive Officer
SNAP-Magat
SNAP-Benguet
Benjamin A. Cariaso, Jr.
Benjamin A. Cariaso, Jr.
President
Chief Operating Officer
Therma Luzon, Inc.
Therma South, Inc.
Danel C. Aboitiz
Danel C. Aboitiz
President
Chief Operating Officer
Therma Marine, Inc.
Therma Mobile, Inc.
Felino M. Bernardo
Felino M. Bernardo
President
Chief Operating Officer
AP Renewables, Inc.

Anton Mari G. Perdices
Anton Mari G. Perdices
Senior Vice President
Chief Operating Officer
Visayan Electric Company, Inc.
Rodger S. Velasco
Rodger S. Velasco
Executive Vice President
Chief Operating Officer
Davao Light and Power Company, Inc.
Rodger S. Velasco
Rodger S. Velasco
Senior Vice President
Chief Operating Officer
Cotabato Light and Power Company
Dante T. Pollescas
Dante T. Pollescas
Senior Vice President
Chief Operating Officer
Subic, Balamban, Mactan and Lima EnerZones

Business at a Glance

AboitizPower currently owns, operates or manages various generation plants, distribution utilities and retail electricity suppliers in the Philippines.


History

2016

Therma South, Inc. (TSI) started full commercial operations in February 2016. It now delivers 300-MW of reliable, dependable and cost-effective baseload power to more than 20 electric cooperatives and distribution utilities in the island. The power plant, located in the boundary of Davao City and Sta. Cruz, Davao del Sur is committed to the protection of the environment. Therma South is utilizing the latest circulating fluidized-bed combustion technology to ensure the power plant meets stringent government emission standards.

San Carlos Sun Power, Inc. (SacaSun) is an AboitizPower subsidiary that operates the 59-MWp utility-scale solar photovoltaic power plant located in San Carlos, Negros O􏰁ccidental. The plant is the first solar power plant project of AboitizPower and its first venture in Negros Island Region.

 

 

Aseagas Corporation, a wholly subsidiary of AboitizPower, is a renewable energy company that provides electricity from biomass waste. The 8.8-MW biomass power plant in Lian, Batangas will utilize the organic effluent or “wastewater” direct from Absolut Distillery to be converted into power and other by-products. The plant’s capacity could power 22,000 households and produce a 33 tpd liquid carbon dioxide (LCO2) for industrial and beverage industries.

2015

Sabangan Hydro
Hedcor Sabangan, Inc. own and operates the 14-MW Sabangan hydroelectric power plant to deliver an additional 55 gigawatt-hours of clean and renewable energy annually to the Luzon Grid. Using a modern run-of-river system, the Sabangan hydro harnesses the natural force of the Chico River of Bukidnon by diverting part of the water into the system. The water then exits the powerhouse and goes back to the river.

2014

Tudaya Hydro
Hedcor Tudaya, Inc. owns and operates the Tudaya 1 and 2 hydroelectric power plants in Davao del Sur. The hydropower plants reside at Barangay Sibulan and Barangay Astorga in Sta. Cruz, Davao del Sur. The construction started in the last quarter of 2012 with a total investment of almost Php2.4 billion. The hydro facilities supply Davao Light and Power Company and Davao del Sur Electric Cooperative with reliable and reasonable power.

Unified Leyte Geothermal
Aboitiz Energy Solutions, Inc. (AESI) owns the 40-MW supply strips of the Unified Leyte Geothermal Power Plant (ULGPP) complex after it has secured the Independent Power Producer (IPP) administrator contract from Power Sector Assets and Liabilities Management Corporation (PSALM). PSALM bid out strips of the power plant’s capacity to various IPP administrators.

SNAP Binga
SNAP-Benguet received on April 15 a copy of an amended Certificate of Compliance (COC) from the Energy Regulatory Commission (ERC) for the Binga Hydroelectric Power Plant’s four units. The amended COC reflects Binga’s capacity increase from 125.8 MW (31.5 MW for each of the four units) to 140 MW (now 35 MW each) following uprating work that began last December 2 and completed last February 23.

2013

SN Aboitiz Power-Benguet (SNAP-Benguet) has completed the rehabilitation of the Binga Hydroelectric Power Plant (Binga HEPP). From its original capacity of 100 MW, the Binga HEPP in Benguet now has a capacity of 126 MW. The rehabilitation was done one unit at a time to keep the plant running. This began in April 2011 and ended in July 2013.

 

 

 

Aboitiz Power Corporation’s subsidiary Therma Mobile, Inc. inaugurated its four Navotas power barges signifying that the facility has completed its rehabilitation and is now ready to supply power. The power barges now have a combined net sellable capacity of 225 MW.

 

 

 

 

AP Renewables, Inc. completed the rehabilitation of its Tiwi-Makban Geothermal facilities, resulting in an improved availability factor and reliability factor.

 

 

 

 

 

AboitizPower inaugurated the Cleanergy Center on August 28, 2013. The Cleanergy Center is an educational facility in the Admin. Compound of MakBan Geothermal Power Plant in Bgy. Bitin, Bay, Laguna. The Center is focused on energy education through the use of audio visual presentations, interactive displays, and a tour of a working geothermal power plant.

2012

Hedcor, Inc. began the commercial operations of Irisan Hydro 1 following the grant of a Certification of Compliance from the DOE in April 30, 2012.

2011

In April 2011, AboitizPower entered into a Memorandum of Agreement (MOA) to bring about a corporate restructuring intended to give it sole ownership of LHC. The acquisition would allow AboitizPower to capitalize on the operating synergies gained by combining Bakun Hydro with the 10 other small to medium hydro power plants it already owns and operates in Northern Luzon.

 

 

 

In May 2011, AboitizPower Corp., through its wholly owned subsidiary Therma Mobile, Inc., acquired four units of the barge-mounted floating power plants moored at the Fishport Complex in Navotas City (Navotas Barges) that would have an aggregate deliverable generating capacity of 242 MW.

 

 

 

A month after that, SNAP began commercial operations of its Ambuklao plant’s unit 3 turbine, with the rehabilitation of the remaining two units to be completed by the 3rd quarter of 2011.

2010

In February and March 2010, AboitizPower through its subsidiary, Therma Mobile, assumed ownership and operations of PB118 (renamed Mobile 1) and PB117 (renamed Mobile 2), after acquiring the two power barges from PSALM for U.S.$30 million through a negotiated bid concluded last July 31, 2009. Each of the barge-mounted, diesel-powered generation plants has a generating capacity of 100 MW. PB 117 and PB 118 are moored in Nasipit, Agusan del Norte and Barangay San Roque, Maco, Compostela Valley, respectively.

 

By May 2010, Hedcor completed the construction of its Sibulan hydro Plant B (26 MW), and its Plant A (16.5 MW) was completed in July. Sibulan Hydro power plant went on full operations in the second quarter of that year. Meanwhile, the coal-fired power plant of CEDC’s coal-fired units were also finished in stages and were commissioned since the end of that same year.

2009

In October 2009, AboitizPower, through wholly owned Therma Luzon, Inc. (TLI), bid for and was awarded an Independent Power Producer-Administrator (IPPA) contract for the output of the 700-MW coal-fired Pagbilao power plant in Quezon province.

2008

In July 2008, AboitizPower, through wholly owned subsidiary Aboitiz Power Renewables, Inc., (APRI) won the bid for and was awarded the Tiwi-Makban geothermal facilities. Tiwi-Makban consists of several power stations located in the provinces of Quezon, Laguna, Batangas and Albay in Luzon island. The Tiwi-Makban geothermal plants recorded a combined peak generation of 467 MW in 2009.

2007

AboitizPower had an eventful year in 2007. In July, it became publicly listed at the Philippine Stock Exchange. In August, together with Vivant Energy Corporation of the Garcia Group, partnered with Global Business Power Corporation of the Metrobank Group to form Cebu Energy Development Corporation (CEDC) for the construction and operation of a 246-MW coal-fired plant in Cebu island.

 

 

 

In November, AboitizPower closed the agreement for the purchase of a 34% stake in STEAG Power, which owns and operates a 232-MW coal-fired plant in Mindanao island. In December, SN AboitizPower (SNAP)-Benguet, the joint venture between AboitizPower and SN Power of Norway, won the bid for and awarded the Ambuklao-Binga hydropower complex consisting of the 100-MW Binga and 75-MW Ambuklao power plants.

2006

In December 2006, SN Aboitiz Power-Magat, the joint venture between AboitizPower and SN Power of Norway, bid for and subsequently awarded the 360-MW Magat hydro plant in Northern Luzon.

1998

AboitizPower was incorporated in 1998 to hold the Group’s investments in the power sector. The company initially held only power generation assets but in early 2007, holdings in the distribution utilities Davao Light, Cotabato Light, Subic EnerZone, San Fernando Electric and VECO were transferred to AboitizPower. Later that same year, ownership in Balamban EnerZone and Mactan EnerZone were added into the company.

1996

In 1996, the 70-MW Bakun hydro plant was commissioned by Luzon Hydro Corporation (LHC), an Aboitiz joint venture with Pacific Hydro Pty Ltd of Australia.

1990

By 1990, Hedcor had a portfolio of 14 plants and 36 MW of installed capacity.

1978

In 1978, the Ormoc and Jolo utilities were divested and converted into electric cooperatives. That same year, the Hydro Electric Development Corporation (Hedcor), was organized to venture into the hydroelectric power generation business.

1935

In 1935, it acquired Cotabato Light and Power Company and was followed by the acquisition of Davao Light and Power Company in 1946.

1930

In 1930, Aboitiz patriarch, Ramon Aboitiz, purchased Ormoc Electric Light Company from the Borromeo family, the first utility the Aboitiz Group owned and managed. It was also about the same year when the Group partnered with Francisco Such to operate Jolo Power Company.

1905

The Aboitiz Group’s involvement in the power sector goes all the way back to around 1918 with the Aboitiz family owning around a 20% equity stake in the Visayan Electric Company (VECO) which was then started by a group of Cebu-based businessmen in 1905.

Awards and Recognitions

COMPANY AWARDS
FinanceAsia’s 17th Annual
Best Companies Asia Poll

BEST MANAGED POWER COMPANY IN ASIA

Kapatiran sa Industriya (KAPATID) Awards
by the Employers Confederation of the Philippines

EMPLOYER OF THE YEAR

COMPANY AWARDS
4th Philippine Stock Exchange (PSE) Annual Bell Awards

BELL AWARD FOR EXCELLENCE IN CORPORATE GOVERNANCE

9th Alpha Southeast Asia Annual Deal and Solution Awards BEST RENEWABLE FINANCE DEAL OF THE YEAR IN SOUTHEAST ASIA— HEDCOR BUKIDNON (PHP10-BILLION FINANCE PROJECT FOR THE PHP13-BILLION MANOLO FORTICH RUN-OF-RIVER HYDROPOWER PROJECT)
FinanceAsia 16th Best Companies in Asia Poll OVERALL BEST MANAGED POWER COMPANY IN ASIA
The Asset Triple A Asia Infrastructure Awards 2016 BEST ENERGY/RENEWABLE ENERGY DEAL – HYDROELECTRIC, PHILIPPINES — HEDCOR BUKIDNON (PHP10-BILLION LOAN FACILITY)
MOST INNOVATIVE DEAL, PHILIPPINES — THERMA VISAYAS (PHP31.97-BILLION LOAN FACILITY)
PROJECT SPONSOR OF THE YEAR
ENERGY/RENEWABLE ENERGY DEAL OF THE YEAR — SacaSun
PROJECT FINANCE DEAL OF THE YEAR – SOLAR, PHILIPPINES — SacaSun
BEST ENERGY/RENEWABLE ENERGY DEAL – SOLAR, PHILIPPINES — SacaSun
DENR – Environmental Management Bureau 5th National Multipartite Monitoring Team Convention CITATION — APRI MULTIPARTITE MONITORING TEAM
Dept. of Labor and Employment “Gawad Kaligtasan at Kalusugan National Award”
NATIONAL WINNER, INDUSTRIAL CATEGORY (Silver Award) — SNAP Benguet
NATIONAL WINNER, INDUSTRIAL CATEGORY (Bronze Award) — Therma Marine
NATIONAL WINNER, INDUSTRIAL CATEGORY (Gold Award) — SHESQ Sr. Manager Hollis Fernandez
Asian Legal Business Philippine Law Awards 2016
DEBT MARKET DEAL OF THE YEAR – AP Renewables’ ISSUANCE OF FIRST CLIMATE BOND
Frost & Sullivan Philippines Excellence Awards
PHILIPPINES BIOMASS POWER COMPETITIVE STRATEGY INNOVATION AND LEADERSHIP AWARD (Aseagas Corporation)
Asset Asian Awards MOST INNOVATIVE DEAL OF THE PHILIPPINES (Therma Visayas, Inc.)

BEST ENERGY/RENEWABLE ENERGY DEAL OF THE YEAR (Hedcor Bukidnon, Inc.)

Investment House Association of the Philippines BEST FIXED INCOME DEAL (Therma Visayas, Inc.)
Alpha Southeast Asia Deal Awards BEST RENEWABLE FINANCE DEAL (Hedcor Bukidnon, Inc.)
COMPANY AWARDS
Corporate Governance Asia – 5th Asian Excellence Awards

BEST INVESTOR RELATIONS COMPANY

BEST ENVIRONMENTAL RESPONSIBILITY

15th Finance Asia Best Companies in Asia MOST COMMITTED TO PAYING GOOD DIVIDENDS (8th)

BEST IN CORPORATE GOVERNANCE (10th)

 

COMPANY AWARDS

The Company has been consistently considered as one of the top well managed and governed Philippine companies for its commitment to good corporate governance practices. Below is a summary of the awards and recognitions received by the Company:

OTHER AWARDS
Corporate Governance Asia – 9th Recognition Awards ASIA’S OUTSTANDING COMPANY ON CORPORATE GOVERNANCE
Corporate Governance Asia – 4th Asian Excellence Awards BEST CFO – Iker M. Aboitiz

BEST ENVIRONMENTAL RESPONSIBILITY

FinanceAsia Best Companies 2014 BEST MANAGED COMPANY (9th)BEST INVESTOR RELATIONS (5th)

MOST COMMITTED TO A STRONG DIVIDEND POLICY (5th)

Alpha Southeast Asia – 4th Annual Corporate Awards BEST STRATEGIC CSRMOST IMPROVED INVESTOR RELATIONS

 

COMPANY AWARDS
2013 PSE BELL Awards for Corporate Governance SHARIAH-COMPLIANT COMPANY
The Asset Excellence in Management and Corporate Governance Awards 2013 PLATINUM AWARD
Corporate Governance Asia – 3rd Asian Excellence Recognition Awards ASIA’S BEST CEO – Erramon I. AboitizASIA’S BEST CFO – Iker M. Aboitiz

BEST ENVIRONMENTAL RESPONSIBILITY

FinanceAsia Awards 2013 BEST CEO – Erramon I. AboitizBEST MANAGED COMPANY

BEST CORPORATE GOVERNANCE

BEST INVESTOR RELATIONS

MOST COMMITTED TO A STRONG DIVIDEND POLICY

BEST CORPORATE SOCIAL RESPONSIBILITY

Institutional Investor Magazine BEST INVESTOR RELATIONS POWER CATEGORY

 

COMPANY AWARDS
Institute of Corp. Directors
Award
All-Asia Executive Poll
(January – March 2012 Poll)Erramon I. Aboitiz
Ranked 2nd, Best CEO

Iker M. Aboitiz
Ranked 2nd, Best CFO

Carmela Franco
Best Investor Relations Professional

Ranked 3rd, Best Investor Relations

COMPANY AWARDS
Finance Asia 2011 Asia’s Best Companies

Ranked 2nd, Best Managed Company

Ranked 3rd, Best Investor Relations

Ranked 3rd, Best in Corporate Social Responsibility

Institute of Corporate Directors
2011
5th Corporate Governance Scorecard Project(In cooperation with the Philippine Stock Exchange and the
Securities and Exchange Commission)Gold Awardee
COMPANY AWARDS
Finance Asia 2010 Asia’s Best Companies

Best CFO – Erramon I. Aboitiz, Iker M. Aboitiz

Ranked 2nd, Best Managed Company

Ranked 6th, Most Committed to Corporate Governance

Ranked 3rd, Best Investor Relations

Ranked 4th, Most Committed to a Strong Dividend Policy

Ranked 3rd, Best in Corporate Social Responsibility

Institute of Corporate Directors
2010
4th Corporate Governance Scorecard Project(In cooperation with the Philippine Stock Exchange and the
Securities and Exchange Commission)Silver Awardee (with a score of 91.6%)
Asiamoney 2010 Asia’s Best CompaniesBest Large Cap Company
COMPANY AWARDS
Finance Asia 2009 Asia’s Best CompaniesRanked 6th, Best Managed Company

Ranked 2nd, Best Mid Cap Company

Ranked 6th, Most Committed to Corporate Governance

Ranked 7th, Best Investor Relations

Ranked 6th, Most Committed to a Strong Dividend Policy

Ranked 7th, Best in Corporate Social Responsibility

Institute of Corporate Directors
2009
Corporate Governance Scorecard Project(In cooperation with the Philippine Stock Exchange and the
Securities and Exchange Commission)Gold Awardee (with a score of 96.9%)

(Aboitiz Equity Ventures, AboitizPower Corporation, Aboitiz
Transport System, Unionbank of the Philippines)

Corporate Directors

COMPANY AWARDS
Asiamoney 2008 Asia’s Best CompaniesBest Medium Cap
PhilRatings 2008 AboitizPower retail bonds given highest credit rating
(PRS Aaa)
COMPANY AWARDS
Magat Hydro
Power
Asset Asian Awards – The Asset Best Project Finance/Best Privatization