AboitizPower unit forms joint venture with UGEP for rooftop solar projects

AboitizPower Distributed Renewables Inc. (APX), a subsidiary of Aboitiz Power Corporation (AboitizPower), has formed a joint venture with renewable energy solutions provider Upgrade Energy Philippines Inc. (UGEP) to pursue rooftop solar projects in the Philippines.

In a statement on Tuesday, AboitizPower said the partnership "leverages the expertise of UGEP on solar and other renewable energy project development, as well as on engineering, procurement, and construction."

AboitizPower said the 50-50 joint venture with UGEP aims to unlock the immense potential for further growth in the renewable energy space by developing and operating distributed solar systems catering to large commercial and industrial markets.

The partnership aligns with APX’s vision of expanding its rooftop solar projects and other ground-mounted renewable energy initiatives for commercial and industrial businesses in the country.

"This partnership enables us to strengthen the conversation with businesses towards a more sustainable-oriented, customer-focused, and integrated approach. Solar projects are carefully designed to meet the unique requirements of power consumers," said AboitizPower first vice president and head of retail James Byron Yu.

"Through our joint venture with UGEP, we aim to leverage their capabilities to deliver on those needs, beyond the sale of retail electricity, encompassing development, construction, and long-term operations and maintenance aspects of solar projects," added Yu.

"Partnering with APX allows us to fulfill our goal of promoting widespread adoption of renewable energy in the Philippines. The joint venture enables us to further demonstrate the viability and benefits of solar energy by providing customized solutions that drive business efficiency and environmental stewardship," said UGEP president and CEO Ruth Yu-Owen. — VBL, GMA Integrated News