ABOITIZ INFRACAPITAL, Inc. said it will upgrade Laguindingan International Airport to increase passenger capacity after officially taking over the airport on April 26.
“We are embarking on a two-phase expansion; we will introduce progressive enhancements in infrastructure and passenger services in the coming months,” Aboitiz InfraCapital President and Chief Executive Officer Cosette V. Canilao said during a briefing on Monday.
For the first phase of the airport’s capacity expansion, the company is working to increase its current capacity of 1.6 million passengers per year to 3.9 million per annum and further scale up its capacity to 6.3 million in the second phase.
The company has partnered with Ireland-based daa International for the upgrade and operation of Laguindingan International Airport.
Aboitiz InfraCapital, a subsidiary of Aboitiz Equity Ventures, Inc. (AEV), will also assume the operations and maintenance of the New Bohol-Panglao International Airport by June.
AEV is a diversified holding company that manages a broad range of investments in various sectors, including infrastructure, power, banking, food, and land.
For this year, AEV is setting aside P105 billion for its capital expenditure (capex) budget, said Jose Emmanuel U. Hilado, AEV senior vice-president and chief financial officer.
The majority of AEV’s capex budget for this year will be allocated for the expansion of Aboitiz Power Corp.’s renewable energy projects, followed by Aboitiz InfraCapital, Mr. Hilado said.
“The next biggest chunk is allocated for Aboitiz InfraCapital to fund their expansion in economic estates and tower acquisitions,” Mr. Hilado said.
Aboitiz InfraCapital will continue to expand its Lima and Tari estates to meet the rising demand from both local and foreign locators, Ms. Canilao said, adding that the company is investing heavily in infrastructure upgrades while also integrating smart technologies across the company’s estate business.
Further, the company is also exploring desalination and bulk water supply projects in Visayas and Mindanao, Ms. Canilao said.
Aboitiz InfraCapital’s water units are Apo Agua Infrastructura, Inc. and Lima Water Corp. It also has a minority stake in Balibago Waterworks System, Inc., a provincial water utility system.
“Through the expansion of Lima Water, Aboitiz InfraCapital is boosting water sustainability and resiliency across its industrial estates,” she said.
ABOITIZPOWER PROJECTSMeanwhile, Aboitiz Power Corp. (AboitizPower) is advancing toward its goal of expanding its total capacity to 9 gigawatts (GW) by 2030 as it begins the rollout of its seven power projects, its president said.
“To date, AboitizPower has also begun the construction of an additional unit of coal, two solar power plants, three battery energy storage projects, and our first wind project, which we target to complete in the fourth quarter of 2026,” AboitizPower President and Chief Executive Officer Danel Aboitiz said during the company’s annual stockholders’ meeting on Monday.
Among the company’s pipeline are solar projects, including the 212-megawatt-peak (MWp) Olongapo Solar power project in Zambales and the 89-MWp San Manuel Solar in Pangasinan.
The company is also gearing up for the construction of its 58.5 MW wind farm in Camarines Sur.
AboitizPower’s lineup of projects also includes battery energy storage systems (BESS), such as the 20 MW Bay BESS in Laguna, 20 MW Binga BESS in Benguet, and the 8-MW Magat BESS.
To date, the company has a 5-GW power generation portfolio, of which 1.8 GW are renewable energy projects.
Meanwhile, the company is moving forward with the upcoming auction for the privatization of the Caliraya-Botocan-Kaliraya (CBK) hydroelectric power plant complex (HEPP) in Laguna.
“We believe that we can enhance its operation and maximize its potential as a merchant asset, given our experience in hydro technology and our diverse portfolio,” he said.
AboitizPower, through its unit Aboitiz Renewables, Inc., previously joined the pre-proposal conference held by the Power Sector Assets and Liabilities Management Corp. last month through Thunder Consortium.
The 796.64-MW HEPP is currently under a 25-year build-rehabilitate-operate-transfer agreement between independent power producer CBK Power Co. Ltd. and National Power Corp., which will expire in 2026.
For 2025, AboitizPower has allocated an initial capital expenditure budget of P73 billion, mainly earmarked for its renewable energy pipeline.
“The remainder will fund the maintenance of our baseload plants and further investments in land, new substations, and metering for our distribution business,” said Mr. Aboitiz.
The company reported an attributable net income of P33.9 billion for 2024, a 2.4% increase from the previous year’s P33.1 billion.
Gross revenues declined by 4.6% to P197.49 billion from P207.1 billion a year ago.
“AboitizPower’s strong financial performance underpins our role in nation-building. Our successful year allows us to invest in more energy solutions, expand our reach, and contribute to the country’s growth,” said Mr. Aboitiz.
“By delivering reliable, affordable, and sustainable power, we’re achieving our business goals and strengthening the foundation for a prosperous Philippines,” he added. — Ashley Erika O. Jose and Sheldeen Joy Talavera