MANILA – In June 2023, Aboitiz Power Corp. will start commercial operations on its second…
PBBM visits Tokyo and inks an energy MOU with AboitizPower
During his official visit to Japan, President Ferdinand R. Marcos Jr. observed the signing of an MOU on clean technology between Aboitiz Power Corp. and JERA Co., Inc., the country’s largest power-producing company.
According to a report made to the Philippine Stock Exchange, Sabin Aboitiz, the chair of AboitizPower, and Satoshi Onoda, the president of JERA, inked an MOU to investigate “greener fuel,” which involves using ammonia and hydrogen to generate electricity.
Through the MOU, AboitizPower, and JERA will conduct a feasibility study on the development of the ammonia and hydrogen value chains in the nation as well as ammonia co-fired power generation.
Utilizing alternative fuels aids government efforts to reduce carbon footprint and lessen the effects of climate change.
“Our two businesses are promoting sustainability by working together to find better fuels, as well as paving the road for a brighter, cleaner future. We are moving closer to creating the infrastructure required to support the ammonia and hydrogen value chains by investigating ammonia as a viable option for decarbonizing the power industry “said Aboitiz.
According to AboitizPower, utilizing greener fuel technology in coal-fired power plants will reduce carbon dioxide emissions by up to 50%.
“Through this partnership, we will assist Aboitiz in its efforts to reduce carbon emissions from its power while also looking at potential new ways to advance technological advancement in the Philippines. Through this MOU, JERA is able to use its expertise and resources to assist AboitizPower and the Philippines in meeting their emission targets “added Onoda.
JERA acquired 25.01 percent of AboitizPower from Aboitiz Equity Ventures, Inc. in 2021 for USD 1.463 billion, as well as an additional 1.99 percent from the privately held Aboitiz & Company.
Marcos emphasized the significance of the relationship between AboitizPower and JERA during his meeting with Japanese companies on Thursday.
The investment is crucial, he added, but the transfer of technology is also crucial because it would give the Philippines the self-sufficiency that has been lacking in the country.***
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