Partnerships

AboitizPower, JBIC strengthen cooperation in energy transition

November 14, 2023

AboitizPower, JBIC strengthen cooperation in energy transition via MOU. Aboitiz Power Corporation (AboitizPower) signed a memorandum of understanding (MOU) with public financial institution Japan Bank for International Cooperation (JBIC) to foster international cooperation in developing the Philippine power industry. AboitizPower will leverage JBIC’s support to strengthen efforts in emissions reduction, introduce cutting-edge transition technologies like liquified natural gas or LNG, and help accelerate renewable energy development in the Philippines. For its part, JBIC said that it will contribute toward realizing global carbon neutrality by supporting and accelerating energy transition toward a decarbonized society in emerging and developing countries. Meanwhile, AboitizPower is embarking on transforming its generation portfolio to have 50% renewable energy — equivalent to 4,600 megawatts — by 2030. Pictured are (L-R) JBIC Tokyo New Energy and Power Finance Department II Unit 1 Director Hiroshi Sagawa and Director General Ryuta Suzuki with AboitizPower President and CEO Emmanuel Rubio and Chief Financial Officer Sandro Aboitiz.