Rubio said the potential IPO will be pursued "if there is really a need." "We also need to consider the implications to AboitizPower if we list ARI," he said. AboitizPower is a publicly listed company that serves as the holding firm for the Aboitiz Group's investments in power generation, distribution and retail electricity services. AboitizPower's investments and interests in various renewable energy projects, including geothermal, large hydro, run-of-river hydro, and solar projects are held primarily through wholly owned subsidiary ARI, which was incorporated in 1995.