Aboitiz Power Corp. (AboitizPower) saw a 71 percent jump in first-quarter net income to P7.9 billion from P4.6 billion a year earlier, driven by stronger generation margins and fresh capacity.

In a stock exchange report on Tuesday, the company said core net income climbed 61 percent to P7.6 billion, supported by a 35 percent increase in EBITDA to P20.3 billion from P15.0 billion.

Generation business drives income surge

The earnings surge was driven by the generation business, as higher contracted capacity, improved availability of coal plants, and new output from solar facilities in Olongapo with 221 megawatt-peak (MWp) capacity, Armenia with 47 MWp, and San Manuel with 93 MWp, lifted margins.

Additional upside came from the first full-quarter contribution of Chromite Gas Holdings Inc., following the commercial launch of its subsidiary, Excellent Energy Resources Inc., in mid-2025.

Energy sold rose 30 percent to 11,243 gigawatt-hour (GWh), while exposure to the spot market eased to 9 percent from 13 percent, helping stabilize returns. This pushed EBITDA from generation and retail supply up 42 percent to P18.5 billion.

Steadier gains

The distribution business posted steadier gains, with energy sales up 6 percent to 1,707 GWh and EBITDA increasing 11 percent to P2.3 billion.

This year, AboitizPower and its partners have earmarked P62 billion in capital expenditures to support renewable energy projects and the development of battery energy storage systems (BESS).

“We continue to deploy capital strategically to accelerate our portfolio transition while maintaining grid reliability through our Transition and Distribution business groups,” said AboitizPower president and CEO Danel C. Aboitiz in the Company’s President’s Report.

Renewable pipeline

The company’s renewable pipeline includes 639.5 megawatts of projects awarded under the fourth round of the Green Energy Auction in September, alongside 147 megawatts of renewable energy and BESS capacities currently under construction.

According to government data, AboitizPower remains the country’s largest power generator, with a 23.86 percent market share as of July 2025.