Foreign Affairs Secretary Albert F. Del Rosario meets with AES Corp. CEO Andres Gluski on 30 September 2015 to discuss the US firm’s expansion program in the Philippines
03 October 2015, Philippine Foreign Affairs Secretary Albert F. Del Rosario met with AES Corporation CEO Andres Gluski on the sidelines of the 70th UN General Assembly to discuss the expansion program of the power firm’s business operations in the Philippines.
A Fortune 200 global power company with operations in 30 countries, AES transferred its regional operations from Singapore to the Philippines in 2014.
“On behalf of the Aquino administration, we highly appreciate AES’ continuing confidence in the Philippines’ competitive business environment,” Secretary Del Rosario said.
The Secretary noted that the Philippine Board of Investments (BOI) has approved AES’ request to move the start of its commercial operations from 2017 to 2018.
“AES would like to see the Philippines to be the leading source of renewable energy in Southeast Asia,” AES CEO Mr. Gluski, in turn, explained.
“The Philippines has great solar and wind sources; and when combined with coal, could provide a relatively low-carbon system that is affordable to the Filipino people,” Mr. Gluski added.
Mr. Gluski also confirmed that AES has moved forward with its plans to invest in an advanced lithium ion, 40-MW battery storage project in Kabankalan, Negros Occidental.
Starting in 2016, AES plans to spend US$1.2 billion to double the capacity of its 600-megawatt coal-fired power plant in Masinloc, Zambales with the project expected to be finished in three years.
Philippine Ambassador to the United States Ambassador Jose L. Cuisia, Jr. said there are tremendous opportunities in both the Visayas and Mindanao in pursuing strategic investments in the Philippine energy sector.
AES began business in the Philippines in 2008. It has maintained that for the Philippines to sustain its rapid economic growth, the country has to build ample energy capacity which could be as much as 10,000 Megawatts over the next 10 to 15 years to meet industry demand.
AES’ operations in the Philippines have also been cited by an environmental watchdog for introducing innovative ecological improvements in its facilities. END