UGEP, Aboitiz Power unit forge joint venture for solar projects

Jul 12, 2023

Upgrade Energy Philippines, Inc (UGEP) has partnered with AboitizPower Distributed Renewables, Inc. (APX), a subsidiary of Aboitiz Power Corporation to embark on an exciting joint venture focused on commercial and industrial (C&I) solar projects in the Philippines.

This strategic collaboration capitalizes on UGEP’s expertise in solar and other renewable energy (RE) project development as well as engineering, procurement, and construction (EPC) and aligns with APX’s vision of expanding rooftop solar projects and other ground-mounted RE initiatives for commercial and industrial businesses in the country.

The 50-50 joint venture sets out to unlock the immense potential for further growth in the renewable energy sector 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 existing business clients 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.

James Byron Yu, AboitizPower’s First Vice President – Head of Retail, emphasized that the partnership is a significant step towards embracing customer-centricity while driving the energy transition in the country.

“This collaboration enables us to shift 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 capture and exceed those needs, beyond the sale of retail electricity, compassing also development, construction, and long-term operations and maintenance aspects of solar projects,” said Mr. Yu.

Ruth Yu-Owen, President and CEO of UGEP, 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”, said Ms. Yu-Owen.

This exciting joint venture between AboitizPower Distributed Renewables, Inc. and Upgrade Energy Philippines, Inc. marks a significant milestone in the journey towards a greener and more sustainable future for the Philippines. With a strong commitment to customer-centricity, innovative approaches, and expertise in renewable energy, the partnership aims to accelerate the transition to clean energy sources while empowering businesses to achieve their sustainability goals.

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