AboitizPower spending P78 B this year

Aboitiz Power Corp. is jacking up its capital expenditure (capex) to P78.1 billion this year, with the bulk earmarked for its green energy fleet.

- By BRIX LELIS

The power generation arm of the Aboitiz Group has allocated 66 percent of the budget or about P51.55 billion for its renewable energy (RE) portfolio.

"This reflects the company's thrust to expand its clean energy capacity to 4,600 MW (megawatts)," AboitizPower said in a statement yesterday. Last year, the company programmed a capital spending of P73 billion, with RE also accounting for the lion's share or around P52.56 billion.