MANILA -Aboitiz Power Corp. has tapped renewable energy firm Upgrade Energy Philippines Inc. (UGEP) to develop solar rooftop projects across the country and accelerate energy transition in commercial and industrial markets.
In a statement, AboitizPower said its subsidiary, AboitizPower Distributed Renewables Inc. (APX), entered into a joint venture with UGEP to expand the company’s portfolio and meet the needs of businesses under its retail group.
“The 50-50 joint venture aims to unlock the immense potential for further growth in the renewable energy space by developing and operating distributed solar systems catered to the large [commercial and industrial] market,” AboitizPower said.
UGEP, a developer focused on rooftop and ground-mounted solar projects for commercial and industrial off-takers, has committed to building around 500 megawatts (MW) of utility-scale solar projects through long-term contracts by 2028.
APX, meanwhile, is AboitizPower’s unit that develops and operates the company’s distributed energy resources, including behind-the-meter solar power ventures, through renewable energy brand Cleanenergy.APX is building its portfolio of 3.63 MW of clean energy capacity mainly through solar projects.
James Byron Yu, AboitizPower head of retail, explained that their partnership with UGEP was a step toward “customer-centricity while accelerating energy transition in the country.”
“This partnership enables us to strengthen the conversation with businesses toward a more sustainable-oriented, customer-focused and integrated approach. Solar projects are carefully designed to meet the unique requirements of power consumers,” he said.
At present, AboitizPower has 1,000 MW of capacity from its renewable energy projects in the country.
It aims to grow this to 4,600 MW by 2030 in line with the national government’s goal of increasing the share of renewables in the Philippine energy mix to 35 percent from the current 21 percent.
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