AboitizPower studies overseas expansion

ABOITIZPOWER CORP. (AboitizPower) is looking to expand its business overseas, especially in countries with similar characteristics as the Philippines, a company’s official said last week.

“I think the opportunities are plentiful and abundant in the Philippines. We understand that in the market, there is great demand here. We are determined to go after these opportunities in the Philippines. Having said that, we are also looking at international expansion,” Joseph Lacson, chief investment officer of AboitizPower, said during the PSE STAR Investor Day.

Mr. Lacson said many of the company’s strengths and capabilities can translate well internationally “particularly in certain markets that share common characteristics of the Philippines.”

“So, yes, we are looking into those,” he said.

Meanwhile, Mr. Lacson said the company is in talks with Japanese firm JERA Co. Inc. for AboitizPower’s planned liquefied natural gas (LNG) venture.

“We are in discussion with JERA and things are moving quite well. They’ve got their strengths; we’ve got our strengths. We have no facility, so we are starting [with] a clean slate,” he added.

AboitizPower has said that it is considering putting up an additional capacity of 1,200 megawatts through LNG in Luzon.

Mr. Lacson said AboitizPower is looking at putting up LNG facilities in several locations.

“The challenge with LNG is the nature of fuel coming in. That, and the context of where LNG prices are globally will be a challenge — how government wants to set LNG policy and how it sees it in the mix,” Mr. Lacson said. — Ashley Erika O. Jose