Sabin Aboitiz

President and CEO, Aboitiz Group

 

This business magnate is leading the way in the country’s renewable energy sector

The Aboitiz name shines bright in the fields of shipping and logistics, industries upon which the powerful Philippine family built its fortune over its first few decades in business. Over the years, though, the clan expanded its business ventures to include banking, infrastructure and power generation. This last sector recently brought Sabin Aboitiz, president and CEO of Aboitiz Equity Ventures, into the limelight.

In July 2022, the company announced that it aimed to double its energy generation capacity to meet increased consumer demand, targeting a total average output of 9,200 megawatts by 2030. Given a moratorium on the construction of new coal-fired power plants in the country that began in 2020, Aboitiz declared that the expansion would be based on a mix of natural gas and renewables.

The project is part of Aboitiz’s drive towards renewables in response to the government’s call to generate at least 15,304 megawatts of the nation’s total power capacity through renewable sources by 2030. To meet such a tall order, Aboitiz and his team are also planning the construction of geothermal plants and large-scale solar and wind facilities. He hopes to expand his company’s hydro-power generation capacity within the decade.

In July 2022, Philippine President Ferdinand “Bongbong” Marcos Jr named Aboitiz as head and convenor of the Private Sector Advisory Council, a grouping of private sector companies involved in infrastructure projects.

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