Philippines' AboitizPower Confirms ₱62 Billion ($1.06B) Renewable Energy and BESS Capex for 2026, 639 MW Pipeline

AboitizPower, the Philippines' largest power generator with a 23.86% share of the national generation market, confirmed ₱62 billion (~$1.06 billion USD) in capital expenditure for 2026, with the majority directed at new renewable energy projects and battery energy storage systems (BESS). The company holds a 639.5 MW renewable project pipeline awarded through the 4th Green Energy Auction Program (GEAP) in September 2025, with 147 MW already under active construction. AboitizPower has scaled its attributable net sellable renewable capacity from under 1 GW in 2020 to 2.3 GW by early 2026. The Philippines targets 35% of electricity generation from renewables by 2030 and 50% by 2040, and the country's competitive renewable energy auctions are driving rapid capacity growth. The company's investment also reflects the broader Southeast Asian clean energy acceleration: the region added a record 27 GW of solar in 2025, up 45% year-on-year.