Advent Energy cues P1.8B worth of projects in 2025
Advent Energy, Inc., intends to launch about P1.8 billion worth of projects next year as the retail electricity supply arm of Aboitiz Power Corp. vows to maintain a leading position in the market.
AdventEnergy is the largest retailer group with more than 500 business facilities across the Philippines dependent on its energy solutions.
Its biggest client yet is conglomerate giant SM Group, with at least 150 megawatts (MW) supporting its major malls in the country.
James Yu, Aboitiz Power first vice president and head of retail, said in a recent talk with reporters that the projects—which are expected to have a combined capacity of 50 to 60 MW—in the pipeline slated for 2025 were already “sealed” this year.
Finishing each project will take six to 12 months, he noted.
Asked about how the company intends to fund the projects, Yu said AdventEnergy has been in talks with banks.
“More and more banks now are really looking forward to working with more renewable energy projects. Most of these are solar projects, some are solar-battery projects,” he said.
The executive did not disclose the names of particular customers but said “a lot of these projects” would have the capacity to cater to their clients’ electricity supply needs for 20 to 25 years.
“And it’s an opportunity for the customer to transition from a conventional source to their own RE [that are actually] within their facility [or premises],” the official added.
Yu said that the group is targeting to fire up an additional 50 to 60 MW of additional capacity every year.
“If more customers want to work with us, we will not limit ourselves to this. We’re really trying to grow this business,” he said.
