Achieved 4,000MW of net attributable capacity








Started the commercial operations of the 39-MW Therma Power Visayas, Inc. power plant in Naga, Cebu







Commenced the engineering design for the SN Aboitiz’s 67-MW floating solar project






Forayed into battery technology systems with the pre-construction and development activities for 

  • SNAP’s 20-MW battery energy storage system in Ramon Isabela
  • Therma Marine Inc’s 49-MW hybrid BESS in Maco Davao de Oro







Davao Light and Power Company’s franchise renewal for another 25 years once it expires in September 2025

DLPC launched its 1st digital substation in davao City






Cotabato Light and Power Company upgraded the Malagapas substation






Malvar Enerzone Corporation successfully energized 2 x 50MW transformers that started to supply energy to various locators in Light Industry Science park in Malvar, batangas







Recognized as FTSE4Good Constituent 3 years in a row affirming our long-standing commitment to sustainability

Scatec ASA, a norwegian company and a major global power playerin RE development and operation signed a binding agreement to acquire 100% of SN Power, our partner in MORE and its subsidiaries

Posted an income contribution to AEV PHP13.33 billion down by 20% year-on-year from PHP16.69 billion in 2018







Achieved Quality Management System (QMS) Certification for holding company Aboitiz Power Corporation







Listed PHP7.25 billion Fixed Rate Bonds on the Philippine Dealing & Exchange Corp. (PDEx), the third tranche of our PHP30 billion Shelf Registration Debt Program, for acquisitions, future investments, and refinancing existing debt






Started commercial operations of the 340-MW Therma Visayas baseload power plant in Toledo, Cebu and the 19-MW La Trinidad Hydro in Benguet






Increased net attributable capacity by 8%









Signed more contracts under the Retail Competition and Open Access (RCOA)








Completed the framework agreements with the host municipalities of Aguinaldo, Lagawe, Lamut, and Mayoyao in Ifugao for the proposed Alimit Hydropower Complex








Switched on the 200-kilowatt pilot floating solar project in Ramon, Isabela







Obtained Integrated Management System certification for AP Renewables, Inc. (APRI) and San Carlos Sun Power, Inc. (SacaSun)






Digitized the on-site monitoring network and reliability management systems of the 300-MW Therma South baseload power plant in Davao








Achieved five million safe manhours without lost time injury for AboitizPower’s Coal Business Unit, and one million safe manhours without lost time injury for La Trinidad Hydro








Finished the installation of rooftop solar panels at Pilmico’s feedmill in Tarlac, as well as started several rooftop solar project in Valenzuela, Bulacan, and Cebu, through our business unit AboitizPower Distributed Energy, Inc. (APX)







Increased distribution customer base by 4% to 1,030,727 customers







Increased aggregate electricity sales by 6% year-on-year to 5,851 GWh








Started the construction and installation of power distribution in the 212-hectare Light Industry & Science Park (LISP) IV in Batangas through Malvar Enerzone Corporation








Inaugurated the upgraded Consolacion Substation in Cebu through Visayan Electric








Achieved Environmental Management System certification for the EnerZones and Visayan Electric, as well as Occupational Health and Safety Management System certification for Visayan Electric







Achieved 100% emergency response within 30 minutes, 100% restoration time within one hour, and increase by 50% same-day connections and reconnections for all distribution utilities







Completed the 890-meter phase 3 of Visayan Electric’s underground distribution system in Cebu City







Set up more Visayan Electric satellite offices for faster handling of customer requirements







Signed a five-year partnership program with the Davao City government, through Davao Light, to replace all sodium lamps in the city into Light Emitting Diode (LED), reducing the city’s energy consumption without compromising services

Contributed PHP16.7 billion to AEV, up by 6% YoY from PHP15.7 billion in 2017

Listed PHP10.2 billion Fixed Rate Bonds on the Philippine Dealing & Exchange Corp. (PDEx), the second tranche of our PHP30 billion Shelf Registration Debt Program, for acquisitions future investments, and refinancing existing debt

Increased attributable net sellable capacity by 291 MW




Inaugurated the 420-MW baseload power plant in Pagbilao, Quezon, a joint venture project with TeaM Energy Corporation (TEC)






Inaugurated the 8.5-MW Maris Canal hydro in Isabela






Launched the first rooftop solar venture through AboitizPower Distributed Energy (APX)







Started commercial operations of the 73.3-MW hydropower plant in Manolo Fortich, Bukidnon








Started the testing and commissioning stage of the 340-MW baseload facility in Toledo, Cebu








Acquired and took over the 153.1-MW Naga Power Plant Complex in Cebu







Signed a Geothermal Resources and Supply Services Agreement with PGPC for the supply of steam and the drilling of new production wells in Tiwi-MakBan geothermal power plants





Started signing framework agreements with host communities for the proposed Alimit Hydropower Complex in Ifugao






Piloted digital analytics in our Davao thermal power plant in an effort to further improve the overall performance of our facilities







Achieved 20 million safe manhours without lost time injury for Therma Visayas, APRI, and SacaSun, and two million safe manhours without lost time injury for Therma South






Increased distribution customer base by 4% to 995,828 customers and increased aggregate electricity sales by 21% YoY to 34.03 TWh







Signed a service agreement with Science Park of the Philippines, Inc. (SPPI) to manage the construction, installation, operation, and maintenance of the power distribution in the 212-hectare Light Industry & Science Park (LISP) IV in Malvar, Batangas






Inaugurated Visayan Electric’s 20th substation in San Fernando, Cebu







Launched the first Basic Electrical Linemen’s Training Center in Mindanao, a project of Davao Light in partnership with the Technical Education and Skills Development Authority (TESDA)






Increased Visayan Electric’s third-party agent partner establishments to 7,820 affiliates nationwide making it more convenient for customers to pay their electricity bills






Completed phase 2 of the Underground Distribution System (UDS) project along the Sinulog route in Cebu City, bringing it to a total of 2,350 meters






Started the next stages of the UDS in Davao City in partnership with the local government and other utility providers; the immediate goal is to transfer six circuit kilometers of overhead lines underground from C.M. Recto Street to Quirino Avenue


Posted income distribution to AEV at PHP 15.7 billion, up by 2% of YoY from 15.4 billion in 2016

Celebrated 10th listing anniversary at the Philippine Stock Exchange in July

Increased attributable net energy sales by 41% YoY from 2,223 MW to 3,124 MW





Completed commissioning of SNAP’s 8.5-MW Maris Canal hydro plant in Isabela






Took full ownership of SacaSun’s solar project in San Carlos City, Negros Occidental







Broke ground on Hedcor’s 19-MW La Trinidad Hydro project in Benguet






Started construction of GN Dinginin Unit 1 with 668 MW gross capacity








Completed restoration of APRI MakBan’s 6-MW Binary Plant








Achieved 20 million and 1 million safe manhours with no lost time injury for Therma Visayas and Therma South, respectively








Sustained efforts for standards certifications: ISO 55001:2014 (Asset Management) for Hedcor Sibulan and Hedcor Tudaya, a first in the Philippines; ISO 9001:2015 (QMS), ISO 14001:2015 (EMS), and BS OHSAS 18001:2007 for Therma South and APRI; Passed Quality Management System (ISO 9001:2015) certification audit across AboitizPower Oil BUs nationwide






Celebrated SNAP Magat’s 10th anniversary in April






Received Saringaya Special Environmental Achievement Award from DENR Region V for APRI’s environmental protection programs







Increased distribution customer base by 4% to 954,300 customers served and increased aggregate electricity sales by 4% YoY to 5,288 GWh







Completed Phase 1 and started Phase 2 of Visayan Electric’s Underground Distribution System (UDS)







Co-developed Agila or GeoSmart mapping system with Navagis that has been endorsed by Google








Energized Banilad TR2 Substation and completed AYA (Alfonso Y. Aboitiz) Substation







Inaugurated Davao Light’s upgraded 200-MVA Don Ramon Substation in Davao City and broke ground on VECO’s 12.5-MVA San Fernando Substation in San Fernando, Cebu







Launched Project Tatsulok of Cotabato Light and Cotabato City LGU to help stop electric pilferage, promote fire prevention, and train locals to become electricians

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.






AP acquired equity Interests in GNPower Mariveles Coal Plant Ltd. Co. and GNPower Dinginin Coal Plant Ltd. Co.

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.

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-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 updating work that began last December 2 and completed last February 23.

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.

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.

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, Aboitiz Power Corporation, 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.

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 was also finished in stages and were commissioned since the end of that same year.

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.

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.

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.

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.

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.

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.

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

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.

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

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.

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.