Philippine conglomerate Aboitiz eyes selling electricity to $4.4b iron and steel project

It could sell 300MW to 600MW of power.

Aboitiz Power, the power unit of Philippine conglomerate Aboitiz Group, has plans to sell electricity to the $4.4b integrated iron and steel project of HBIS Group of China, Huili Investment Fund Management, and Steel Asia Manufacturing Corp. in Misamis Oriental, local publication Manila Standard reports.

The facilities could demand a power capacity between 300MW and 600MW. The report adds that the effects of the potential deal on the company’s renewables or geothermal business are still unknown.

In another announcement, Aboitiz Power chief operating officer Emmanuel Rubio told reporters that the company is looking for investment opportunities in Indonesia, Myanmar, and Vietnam.

“We’re always in the lookout in Indonesia, Vietnam, and Myanmar. Until we get something concrete out of our business development group, I don’t think I can disclose any project, but we’re there in those countries,” he said. “We’re just doing feasibility studies, looking for partners.”

The executive added that renewable energy projects will be the primary focus of the company, but it will remain open to other opportunities overseas.