Aboitiz Power

Aboitiz Power Corporation (AP) was incorporated on February 13, 1998 as a holding company for the Aboitiz Group's investments in power generation and distribution. However, in order to prepare for growth in the power generation industry, AP was repositioned in the third quarter of 2003 as a holding company that owned only power generation assets. The divestment by AP of its power distribution assets was achieved through a property dividend declaration in the form of AP's ownership interests in the different power distribution companies. In 2005, AP consolidated its investments in mini-hydroelectric plants in a single company by transferring all of Hydro Electric Development Corporation's and Cleanergy, Inc.'s mini-hydroelectric assets into Hedcor, Inc.

Ownership in AP was opened to the public through an initial public offering of its common shares in July 2007. Since its incorporation, the Company has accumulated interests in both renewable and non-renewable generation plants. Among AP's subsidiaries include Aboitiz Renewables, Inc.; SN Aboitiz Power-Magat Inc.; Luzon Hydro Corporation; and Therma Power, Inc. The Company also has interests in distribution utilities and retail electricity suppliers.

As of December 31, 2014, Aboitiz Equity Ventures, Inc. owns 76.88% of the Company.