At the sidelines of the Philippine Power and Infrastructure Funding Roundtable Forum held yesterday, Aboitiz said his company is hiking its power-generation portfolio to add 480 MW to its total attributable generation capacity in the next three to four years.

“Our current total attributable capacity is close to 2,400 MW, so if we add around 480 MW in next to three to four years, we will have a little less than 2,900 MW in attributable generation capacity,” he said.

The executive added that their partners and the company will pursue the construction of the 600-MW power plant in Subic, in which AboitizPower holds a 50-percent stake in the corporate vehicle, Redondo Peninsula Energy Inc.

Aboitiz added that they are still negotiating with a consortium of local banks to raise funding for the P40 billion coal project in Subic. “We see financial closure for the Subic plant towards the end of the year,” he said.

The company is also building a 300-MW coal-fired plant in Davao with a cost estimated to reach between P15 billion and P17 billion. Development of small hydro projects with a capacity 30 MW is also being pursued in the Luzon area.

Aboitiz declined to comment if they will be able to maintain their current market share as other power players are continuously being added to the grid. AboitizPower accounts for 14 percent of the country’s overall generation capacity.