JERA ramps up Phl presence via AboitizPower partnership

Izumi Kai, chief executive officer at JERA Asia Pte. Ltd., told visiting Filipino journalists that the company, through its partnership with Aboitiz Power Corp., is positioned to support the energy needs of the Philippines, while advancing decarbonization and innovation.

- By LAWRENCE AGCAOILI

"The Philippines is a very important market for JERA, and we intend to continue to support and achieve energy transition, as well as securing this growth, resulting in economic growth as well," Kai said.

According to Kai, JERA invested $1.58 billion in the Philippines when it acquired a 27-percent stake in AboitizPower in September 2021.

"After the investment, Aboitiz itself continued to grow and invested the money for new development. Over the last four years, we are a 27-percent owner of AboitizPower and we are jointly growing," Kai added.

During the period, he said AboitizPower managed to increase its capacity.

JERA and AboitizPower vowed to create lasting value, uplift operations and enhance capabilities to support growth and the energy transition in the Philippines.

"Through AboitizPower, we will continue to invest in the (Philippine) market," Kai said.