Aboitiz Power Corp. (AboitizPower) is beefing up its portfolio by exploring opportunities to expand its power business abroad, particularly in Indonesia.
In a disclosure to the Philippine Stock Exchange (PSE) on Monday, AboitizPower said it will participate in the exploration and development of a potential 100-megawatt (MW) greenfield geothermal plant in East Java Province, Indonesia.
The venture will be undertaken through AboitizPower International Pte. Ltd., a wholly owned Singapore-based subsidiary of AboitizPower, which entered into an agreement with PT Medco Power Indonesia.
Antonio Moraza, president and COO of Aboitiz Power, said this will be the company’s first international power venture.