ABOITIZ Power Corp. said its subsidiary Hedcor, Inc. was able to re-synchronize two units of its 45-megawatt (MW) Manolo Fortich 1 hydropower plant to the Mindanao grid, after completing restoration works that took about a year.
In a regulatory filing on Wednesday, AboitizPower said it had temporarily shut down units 3 and 4 of the Bukidnon-based plant for pipe repair works because of persistent rains, which caused erosion and mudslides in the area last year. The units have a combined gross capacity of 32 MW.
It added that it had completed restoration works for the affected units in 358 days.
“Hedcor Bukidnon is now generating at full gross capacity of 73.32 MW,” it said, referring to its Manolo Fortich 1 and 2 plants, which are now both fully operational.
The two plants generate Cleanergy, the firm’s brand for clean and renewable energy across Mindanao.
AboitizPower is the holding company for the Aboitiz group’s investments in power generation, distribution, and retail electricity services.
Hedcor, a wholly owned subsidiary of AboitizPower, is focused on generating power from run-of-river hydropower systems.
AboitizPower aspires to reach a 50-50 power generation share in its Cleanergy and thermal capacities by 2030.
The firm’s second-quarter attributable net income rose by more than twofold to P3.96 billion after commissioning revenues from its new facility GNPower Dinginin’s unit 1, higher power demand and increased dispatch from the wholesale electricity spot market, among others.
Shares in AboitizPower at the local bourse ended 2.25% higher or 55 centavos to finish at P24.95 apiece on Wednesday. — Angelica Y. Yang