Aboitiz Power leads AEV’s growth as global player
The robust growth of Aboitiz Power Corporation in the past seven years is expected to continue leading Aboitiz Equity Ventures development as it marks its 20th anniversary as a publicly listed company this year and consolidates its footing as a player in the global market.
“The most significant highlight of AEV’s growth story has been the robust expansion of our power business, especially over the past 7 years, and AboitizPower will continue to spearhead the Group’s future growth,” said Antonio R. Moraza, Aboitiz Power Corporation (APC) President and Chief Operations Officer, during his keynote message delivered during the Mindanao Media Party 2014 hosted by APC at the SMX Lanang in Davao City last October 3.
Moraza said going public in 1994 was intended to fuel our company’s growth and give us the muscle to attain our business goals.
“Our focused strategic initiatives, key acquisitions, strong partnerships and good corporate governance led us not only to create economic value, but also earned us the recognition of being one of the best-managed companies in the Philippines,” he said. “It certainly has been an exciting journey of expansion for AEV, as we continue to build our businesses while staying focused on our mission to create long-term value for all our stakeholders. We ensure that value created also accrues to our customers, our host communities, our team members and other stakeholders.”
Moraza revealed APC would be increasing its power generation capacity by another 2,000 megawatts (MW) over the next five years. Last September, it officially launched the 420-MW Pagbilao 3 power plant in Quezon. Other plants like the ongoing 300-MW baseload plant in Davao are either under construction or close to securing their notice to proceed.
“Our commitment to growing our power business is strongly tied to our support of the nation’s economic development,” he said.
For other companies listed under the AEV portfolio, Moraza said the group is now reaping the benefits of stronger synergies between UnionBank and CitySavings, with the former having increased capitalization and poised for future growth and committed to executing its FOCUS 2020 strategy towards being a great retail bank and expanding its presence.
AboitizLand, which is also celebrating its 20th year, is working towards its goal to become a national player in land development, after its entry into Luzon with the LiMA Land acquisition.
AEV has also ventured into building the country’s first liquid bio-methane fuel plant through Aseagas, its joint venture with a UK company and would continue to pursue projects under the government’s Public-Private Partnership program.
“We are also pursuing exciting opportunities leading up to the ASEAN economic integration. Pilmico recently acquired an aqua feeds company in Vietnam and is opening an office in Indonesia this year,” said Moraza, who previously served as served as President and Chief Executive Officer of Pilmico Foods Corporation. “We are also exploring power projects in other countries. These initiatives signal the start of our journey toward becoming a global organization.”
In his earlier welcome remarks at the same event, Jaime Jose Y. Aboitiz, EVP and COO of the APC- Distribution Group, disclosed AEV was taking deliberate steps in realizing its vision to be a truly sustainable enterprise that it could entrust to future generations.
“For us, looking back across time always brings inspiring thoughts of how invaluable you guys have been to the success of our endeavors, including our commitment to becoming a truly sustainable organization that can be entrusted to future generations,” Aboitiz said.
“This is the idea behind Aboitiz BetterWorld, which fully embodies our sustainability mindset,” he added. “We are glad to have all of you, our friends in media, as our partners in seeing this through because, after all is said and done; we all want to lay the foundations of a bright future for our children.”
“For us in Aboitiz, long-term sustainability is anchored on the belief that we can do well by doing good, always making the right long-term decisions that balance the interest of people, planet and profit,” Moraza said. “At the foundation of this mindset are our core values of integrity, innovation, teamwork and responsibility.”