Aboitiz Renewables Reaffirms Push For Diversified, Low-Cost Clean Energy As Middle East Tensions Trigger National Energy Emergency In The Philippines

Aboitiz Renewables Inc., the clean-energy division of Aboitiz Power Corporation, has reaffirmed its commitment to expanding a diversified and cost-effective renewable energy portfolio, even as the Philippines faces a national energy emergency brought on by escalating geopolitical tensions in the Middle East. With global fuel markets becoming increasingly unstable, the company emphasized the importance of investing in indigenous energy sources to reduce dependence on imported oil and liquefied natural gas. The Philippines remains heavily exposed to global disruptions, particularly in the Strait of Hormuz, a vital chokepoint through which an estimated 25% of the world’s oil supply and 19% of global LNG shipments pass. Any disturbance in this region directly affects the country’s energy security and pricing.