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Aboitiz Subsidiary Sells Mothballed Power Barges to MORE Power

1 report, 1 independent Updated Mon 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

AboitizPower announced the sale of mothballed oil-fired power barges from its subsidiary, TMO, to MORE Electric and Power Corp. The company stated that the two barges, Mobile 4 and Mobile 6, were mothballed since February 14, 2025, and the transfer was completed in compliance with grid and regulatory standards after confirmation from the Department of Energy. MORE Power is an electricity distribution utility that serves Iloilo City.

From bworldonline.com

Why it matters

Some supportBrind's analysis of the reports

The transaction marks a strategic divestiture of operational assets from TMO. For AboitizPower, this signals a shift in its power generation portfolio. The buyer, MORE Power, is expanding its operational footprint into Iloilo province.

From bworldonline.com

Who's involved

  • Iloilo CityThe service area of the buyer, MORE Power, is Iloilo City.
  • AboitizPowerThe holding company for AboitizPower's power generation investments.
  • TMOThe operational entity of AboitizPower that divested the power barges.

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The entities involved

Coverage

Newest first; wire copies grouped