Aboitiz Power Corp.’s renewable energy subsidiary is planning a ₱7.6-billion expansion of its solar operations in Zambales, a move that could add 179 megawatts (MW) of capacity to the national grid.
In a filing with the Department of Environment and Natural Resources, AP Renewable Energy Corp., under Aboitiz Renewables, Inc., proposed the development of the Olongapo Solar Power Project – Phase 2, which will cover nearly 229 hectares in Olongapo City.
Construction is expected to start in the second quarter of 2026, with commercial operations projected to begin in early 2028.
“This proposed solar power project is fully aligned with the Philippines’ renewable energy transition, directly supporting the national shift toward cleaner, more sustainable energy sources,” AP Renewable said.
A public scoping for the project’s environmental impact assessment is scheduled for Nov. 11.
AP Renewable began Phase 1 of the Olongapo solar project earlier this year, designed to produce 221 MW of capacity. In September, it secured a ₱7.4-billion project finance deal with the Bank of the Philippine Islands to fund construction and operations.
Once both phases are completed, the Olongapo development will become Aboitiz Renewables’ largest solar project, contributing to its goal of growing its renewable energy portfolio to 4,600 MW by 2030.
The expansion also supports the government’s targets of raising renewable energy’s share in the national power mix to 35% by 2030 and 50% by 2040.
Despite its push into renewables, AboitizPower reported a 15% decline in core net income for the first nine months, citing higher depreciation and interest expenses tied to its Bataan coal facility.
On Tuesday, AboitizPower shares closed 1% higher at ₱40.40.
Source: bworldonline.com
