CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER
1. Date of Report (Date of earliest event reported)
Dec 6, 2017
2. SEC Identification Number
C199800134
3. BIR Tax Identification No.
200-652-460-000
4. Exact name of issuer as specified in its charter
ABOITIZ POWER CORPORATION
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
32nd Street, Bonifacio Global City, Taguig City, Metro Manila, PhilippinesPostal Code1634
8. Issuer's telephone number, including area code
(02) 886-2800
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class
Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Stock P1 Par Value
7,358,604,307
Amount of Debt Outstanding (As of Sept. 30, 2017)
222,237,327,000.00
11. Indicate the item numbers reported herein
9
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
Aboitiz Power CorporationAP
PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C) Section 4.4 of the Revised Disclosure Rules
Subject of the Disclosure
AP to add some 500 MW of capacity in 2018
Background/Description of the Disclosure
AboitizPower is set to add some 500 MW of attributable capacity in 2018, coming from the completion of several hydro and baseload plants in Luzon, Visayas, and Mindanao.
In a briefing to analysts last Tuesday, AboitizPower President and COO Antonio R. Moraza said the projects are on track and should be mostly online in the first half of 2018.
“The entry of these plants will significantly support the country’s energy reserves and will show that the Philippines is open for business and investments,” Moraza said. “We have one of the most diversified portfolios in the country and we continue to be on the lookout for opportunities to push our balanced mix strategy.”
Meanwhile, Moraza said AboitizPower expects to be able to make a final decision within the year on its Aseagas biomass power plant facility in Batangas that is currently under extended shutdown.
“We are currently continuing our technical evaluation, and a write-off is a possibility,” Moraza said.
AboitizPower with its partner SN Power recently completed construction of the 8.5-MW Maris Canal hydro project in Isabela, while wholly-owned subsidiary Hedcor is wrapping up construction of a 68.8-MW hydro plant in Manolo Fortich, Bukidnon.
The company is also completing the 340-MW Therma Visayas baseload power plant in Toledo City, Cebu and the 400-MW Pagbilao 3 baseload power plant in Quezon.
Aseagas disclosed last Monday that it prepaid its outstanding loan with the Development Bank of the Philippines (DBP) in the amount of Php2.368 billion. The company also has invested equity of around Php950 million for the biomass plant and has around Php460 million in outstanding liabilities.
About AboitizPower AboitizPower is the holding company for the Aboitiz Group’s investments in power generation, distribution, and retail electricity services.
The Company is one of the largest power producers in the Philippines with a right-mix portfolio of assets located across the country. It is a major producer of Cleanergy, its brand for clean and renewable energy with several hydroelectric and geothermal power generation facilities. It also has various fossil-fired power plants in its generation portfolio to support the baseload and peak energy demands of the country.
The Company also owns distribution utilities that operate in high-growth areas in Luzon, Visayas, and Mindanao, including the second and third largest private utilities in the country.
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For further queries on this Press Release, please contact:
WILFREDO A. RODOLFO III Corporate Branding and Communication ABOITIZ POWER CORPORATION [email protected] +632 886-2800 local 36502 +63917 6348395
Aboitiz Power CorporationAP