C05773-2018

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

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)
Aug 24, 2018
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, Philippines Postal Code 1634
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 June 30, 2018) 214,586,455,000.00
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

APRI-PGPC Geothermal Resources Supply and Services Agreement (GRSSA)
Background/Description of the Disclosure

AP Renewables, Inc. (APRI) and Philippine Geothermal Production Company, Inc. (PGPC, formerly Philippine Geothermal Inc.), commit to continue the development of clean geothermal energy with the signing of a Geothermal Resources Supply and Services Agreement (GRSSA) today, August 24, for the supply of steam and drilling of new production wells in the Tiwi and MakBan Geothermal Complex, ensuring the long-term operations of the two renewable power plant facilities.

APRI, a wholly-owned subsidiary of AboitizPower, operates the 458-MW MakBan Geothermal Power Plants that straddle the provinces of Batangas and Laguna, as well as the 289-MW Tiwi Geothermal Power Plants in Albay.

PGPC, the pioneer in the commercial development of geothermal energy in Southeast Asia, is the steamfields operator and geothermal resource provider to the power plants.

Under the GRSSA, PGPC will drill 12 new production wells over a six-year period to increase steam availability for the power plant facilities by about 20%. The agreement also ensures a more competitive fuel pricing in the long term.

“APRI is committed to deliver reliable and renewable power to our customers. This agreement secures the continued viability of the power plant facilities allowing us to deliver that commitment. For three years now, the Philippines has been ranked number 1 in energy sustainability in the World Energy Council’s (WEC) Energy Trilemma report because we continue to maximize the potential of RE in the country, we hope to continue that momentum,” APRI President & COO Alexander B. Coo said.

“Renewable baseload energy is critical for the Philippines to power its economic growth. The sustainable operation of the geothermal steamfield is our way of supporting the country’s long-term energy needs through the supply of reliable, clean, and indigenous energy resources,” PGPC President Napoleon L. Saporsantos, Jr. said.

First commissioned in 1979, the Tiwi-MakBan Geothermal Complex is one of the biggest geothermal facilities in the country and the region. PGPC has since operated the steamfield facilities. AboitizPower took over the operations and management of the power plant facilities from the National Power Corporation in 2009. ###

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, geothermal, and solar 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
Other Relevant Information

Please see attached.
Filed on behalf by:
Name Sammy Dave Santos
Designation Authorized Representative