ILOILO CITY, Philippines — Aboitiz Power Corporation is strengthening power supply reliability in the Visayas after transferring operational control of two bunker-fired floating power plants to MORE Electric and Power Corporation (MORE Power).
In a regulatory disclosure filed with the Philippine Stock Exchange on Monday, October 5, the company said its subsidiary, Therma Mobile, Inc. (TMO), had turned over the management of its Mobile 4 and Mobile 6 power barges to the Iloilo City-based distribution utility.
The two barges, which had previously been based in Navotas, Metro Manila, have been mothballed since February 2025 after the Department of Energy (DOE) approved the suspension of their operations.
TMO had initially planned to keep the units out of service until their scheduled commercial restart in February next year. Their transfer to MORE Power will instead allow the generation assets to be redeployed ahead of that timetable and support electricity requirements in Panay Island.
AboitizPower said the transaction will not affect the operations of TMO’s other two oil-fired power barges, Mobile 3 and Mobile 5.
“TMO’s remaining generation activities will continue through its two other oil-fired power barges, TMO Mobile 3 and Mobile 5, whose operations remain unaffected by this transaction,” the company said.
The companies are coordinating with the DOE, Energy Regulatory Commission (ERC), National Grid Corporation of the Philippines (NGCP), and Independent Electricity Market Operator of the Philippines (IEMOP) to complete the integration of the transferred assets.
The move follows a similar transaction in 2024, when AboitizPower transferred an 80-megawatt power barge from Navotas to Iloilo for deployment in response to increasing electricity demand in the region.
The latest transfer is expected to provide MORE Power with additional generation resources as it works to support the growing power requirements of Iloilo and other areas in Panay.