MANILA, Philippines - Global Business Power Corp. (GBPC) is capitalizing on the rosy business sentiment and the robust line-up of infrastructure projects to expand its energy portfolio into renewable energy and into Luzon, its top official said.
The Visayas power producer is looking to leverage on the upbeat business outlook and increased infrastructure demand by expanding its operations, GBPC president Rolando Bacani said in a statement yesterday.
“One of our key priorities is to support the country’s growth momentum, and we look to harness various opportunities as we help cater to the country’s growing energy requirements,” he said.
Expanding the company’s portfolio is crucial in order to more effectively address the needs of consumers, Bacani said.
He said the positive business sentiment is projected to boost business expansion and increase energy demand.
He cited Bangko Sentral ng Pilipinas’ (BSP) quarterly Business Expectations Survey which showed business outlook for the second quarter of 2017 stood at 47.2 percent, up 12.5 percent from the previous quarter.
The industry, construction and service sectors all posted buoyant outlook for second quarter, signaling anticipation for increased consumption during the summer period as well as confidence in government spending and infrastructure projects.
The company is likewise looking at Luzon as its next frontier, GBPC executive vice president Jaime Azurin said.
“Now that we have secured the baseload requirement of the Visayas with our facilities in Cebu and Panay, we are now looking into expanding in Luzon,” he said, noting the firm has plans to set up a 2x335-MW coal-fired power facility in the region.
Apart from expanding its presence across the country, GBPC is also eyeing to enter the renewable energy (RE) sector, Azurin said.
“Another key priority for us is to explore renewable energy sources as part of our commitment to offer flexible energy solutions to our customers,” he said.