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APX, UGEP firm up joint venture for solar projects in PH
July 25, 2023
Aboitiz Power Corporation (AboitizPower) subsidiary AboitizPower Distributed Renewables, Inc. (APX) entered into a joint venture with Upgrade Energy Philippines, Inc (UGEP) to pursue rooftop solar projects in the Philippines.
The partnership leverages the expertise of UGEP on solar and other renewable energy (RE) project development, as well as on engineering, procurement and construction. It aligns with APX’s vision of expanding its rooftop solar projects and other ground-mounted RE initiatives for commercial and industrial (C&I) businesses in the country.
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 C&I market. These solar energy generating facilities will be tailored to meet the specific needs of prospective and current C&I businesses under the AboitizPower Retail group portfolio.
UGEP’s specialization in engineering, procurement and construction has garnered the company a reputation for delivering high quality and cost-competitive solar energy and energy efficiency projects.
AboitizPower First Vice President - Head of Retail James Byron Yu considers the partnership to be another step towards embracing customer-centricity while accelerating the energy transition 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. 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,” he said.
UGEP President and CEO Ruth Yu-Owen acknowledged the pivotal role of decentralized generation in assisting businesses as they explore and venture into more sustainable energy solutions.
“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,” she said.
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