Generation business bolsters AboitizPower’s 1H earnings

AboitizPower Corp.’s generation business bolstered its earnings for the first half of 2010, accounting for 96% of its earnings on a year-to-date basis.  It recorded a 696% increase in net income year-on-year (YoY) from P1.6 billion to 12.7 billion.

AboitizPower’s generation portfolio increased its attributable capacity by 356% YoY. Part of this consists of renewable generation assets under its Cleanergy brand of cleaner and renewable energy like its Tiwi and MakBan facilities.  The former is located in Albay and has a total capacity of 289 MW, while the latter is located at the border of Laguna and Batangas and has a total capacity of 458 MW. In 2009, the Tiwi-MakBan facilities recorded a combined peak generation of 467 MW, which provided power to around 467,000 households.

“We thank the companies that made the responsible choice of opting for the geothermal energy provided by the Tiwi and MakBan facilities,” said APRI COO Austin Herrick.

The Energy Regulatory Board recently awarded APRI a Certificate of Compliance for passing its environmental, technical, and financial standards.

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