AboitizPower's Renewable Energy Expansion Drives Progress Towards 2030 Goal with New Solar and Geothermal Projects

AboitizPower Corporation anticipates continued progress in 2025, building on its 2024 achievements, which included advancements in its renewable energy expansion plan. The company aims to triple its renewable energy fleet by 2030, adding approximately 3,700 MW of new renewable energy capacity. Key projects energized in 2024 include the 159-MWp Laoag solar, 17-MW Tiwi binary geothermal, 45-MWp Armenia solar, and 173-MWp Calatrava solar plants. AboitizPower's EBITDA increased by 12% year-on-year in the first nine months of 2024, driven by higher generation portfolio margins and increased energy sales from distribution utilities. The company is also implementing "Project Arkanghel" to transform its thermal power plants into smart power plants using digital twin technologies and asset monitoring systems. AboitizPower received a Golden Arrow Award for its compliance with corporate governance standards and ESG strategies.