Stakeholders in the power industry should consider all forms of energy sources to meet the country’s energy requirements, Aboitiz Power Corp. said on Wednesday.
“Meeting today’s energy needs is imperative. It fuels our nation’s growth, sustains our industries, and powers our homes,” said company president Emmanuel Rubio during Meralco Power Academy’s summit on sustainable energy held in Makati City.
“[But] transitioning to a more sustainable energy future will take time. This journey necessitates the construction and upkeep of two distinct energy systems: one that ensures the reliable and sufficient meeting of our current energy needs and another that paves the way for cleaner, greener energy delivery over an extended period.”
To help meet a projected 6.6 percent annual growth in electricity demand, AboitizPower indicated that it is considering all feasible energy options—both renewable and thermal, including energy storage technologies—with consideration of its impact on the environment, the local community, and the wider society.
In line with the Philippine government’s goal of having a 50 percent share of renewable energy (RE) in the country’s power generation mix by 2050, AboitizPower will continue to invest in RE en route to reaching at least 4,600 megawatts (MW), or 50 percent of its generation portfolio by the next decade.
Currently, close to 1,000 MW of AboitizPower RE projects — including wind and solar farms and more geothermal capacities—are in the pipeline. At the same time, AboitizPower is also looking at baseload capacities that will “keep the lights on” like liquefied natural gas (LNG) to potentially complement the influx of variable RE, as well as small modular nuclear reactors for quick and scalable capacity deployment and flexibility.
“Sustainability demands that we explore and apply cutting-edge, clean, and zero-emissions technologies that require many years, if not decades, to gain traction, be written into local laws and regulations, earn social acceptance, followed by actual boots on the ground, power plants being built and kilometers of transmission lines being strung,” Rubio added.
