Upgrade Energy Philippines (UGEP)

OUR HISTORY

2015
Upgrade Energy Philippines (UGEP) started as a Joint Venture between PhilCarbon, one of the pioneer renewable energy project developers in the Philippines, and Upgrade Energy, a Belgian company focusing on energy solutions for industrial consumers.
2015 – 2017
Early projects included some of the Philippines’ first commercial and industrial (C&I) solar rooftop systems for CW Home Depot, ARC Refreshments Corporation, and Shopwise.
2018 – 2020
UGEP continued to increase its C&I portfolio through an innovative solar leasing program, made possible by a partnership with the Development Bank of the Philippines. The DBP served as a game-changing catalyst for UGEP’s early success.
2020 – 2022
During the COVID-19 pandemic, UGEP continued to operate and build new projects, including 4 solar rooftop projects for Robinsons Land Corporation in Visayas and Mindanao.
2022-2023
UGEP successfully completed its flagship 13.8 MW solar rooftop project at JG Summit Petrochemicals Group, built for Merbau Corporation. It is the largest operational solar rooftop facility in the Philippines for own consumption.
2023 – 2024
Our target is to grow our portfolio of utility scale renewable energy projects to 500 MW by 2030 and C&I solar to more than a 100MW by 2028.

To realize these goals, UGEP entered into a joint venture with Aboitiz Power Distributed Renewables with the goal of dominating the C&I solar market in the Philippines.

We also secured our first Solar Energy Operating Contract with the Department of Energy to develop a 50 MW utility-scale solar project in Zambales and are working on multiple project sites.
2024 and beyond
We aim to grow our portfolio of utility-scale renewable energy projects to 500MW by 2030 and C&I solar to more than 100MW by 2028.

We entered into a joint venture with AboitizPower Distributed Renewables to dominate the C&I solar market in the Philippines.

We secured our first Solar Energy Operating Contract with the Department of Energy to develop a 50MW utility-scale solar project in Zambales, among other project sites.

We secured a strategic investment from Clime Capital, a Singapore-based fund management company, through the Southeast Asia Clean Energy Fund (SEACEF).

MESSAGE FROM THE CHAIRPERSON

The Philippines is endowed with an abundance of sunlight. Solar energy can significantly reduce dependence on fossil fuel, providing energy security and powering the country’s sustainable economic development.

I am privileged to work with a team of dedicated professionals who share the vision of a sustainable future and who are guided by core values of honesty, teamwork, respect, innovation, and accountability to bring our vision to fruition.

— Cecilia Borromeo, Chairperson

I am privileged to work with a team of dedicated professionals who share the vision of a sustainable future and who are guided by core values of honesty, teamwork, respect, innovation, and accountability to bring our vision to fruition.

— Cecilia Borromeo, Chairperson

Our Team

Ruth Yu-Owen

President and CEO

Ruth is a 20-year veteran in the field of renewable energies: from wind, hydro, to solar. A leader in the energy industry, she is the Chairperson of Renewable Energy and Energy Efficiency of the European Chamber of Commerce of the Philippines (ECCP) and the Vice President for Internal Affairs of the Philippine Energy Efficiency Alliance (PE2).

Ruth is also the Co-Founder of Connected Women, a social impact technology startup that provides upskilling and livelihood opportunities to Filipinas.

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Rufino "Bumi" Bomasang

Chairman of the Board

In the last 50+ years, Bumi has served the Philippine minerals and energy sector as an engineer, manager, and secretary of the Department of Energy. He has explored and developed indigenous energy sources that reduced our country’s dependence in imported energy.

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Jocelyn Anivado

Chief Financial Officer

Jocelyn has over 35 years of experience in Accounting and Corporate Finance. She simultaneously serves as the CFO of UGEP Solar 1, a subsidiary that handles leasing and power purchase agreements for UGEP.

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Pieterjan Vanbuggenhout

Chief Operations Officer

For the past 15 years, Pieterjan has specialized in the development, financing, engineering, procurement, and construction of solar projects in Southeast Asia and the world. On top of this, he worked as an investment manager for renewable energy and energy efficiency projects in Europe and Asia. He is also the founder and director of Atum Energy, a company providing solar and battery storage solutions in Cambodia.

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Michael Yaxley

Governance, ESG, and Ethics and Compliance Adviser

Mic has extensive worldwide experience in more than 35 countries on 4 continents, including 17 years in the Philippines. He was the South East and North Asia Regional Director for major UK and US infrastructure development consultancies. He set up and Chaired JV companies in Thailand and the Philippines and later became the Ethics and Compliance Director for Asia-Pacific and Europe. Mic brings a wealth of experience in the governance of infrastructure companies.

CONNECT WITH MIC

Our ESG Framework

UGEP is committed to a sustainable future through our renewable energy operations. Our Environmental, Social, and Governance (ESG) policy is based on the triple bottom line of People, Planet, and Profit as we actively seek to generate economic, environmental, and social value for our company, our stakeholders, and our society.

UGEP will uphold these principles as we work toward a more sustainable future.

OUR ESG FRAMEWORK

Environment

Develop renewable projects that minimize carbon emissions.

Implement energy-efficient technologies and sustainable design practices.

Monitor and manage our environmental impact.

OUR ESG FRAMEWORK

Society

Prioritize safety and health for our employees and the public.

Cultivate an inclusive work environment that values diversity and equity.

Engage with local communities and promote job creation.

OUR ESG FRAMEWORK

Governance

Uphold ethical behavior, transparency, and compliance with laws.

Maintain an independent and diverse board for effective oversight.

Foster a culture of accountability and ethical decision-making.

Listen to employees, customers, investors, and communities to inform our decisions.

Communicate openly and transparently about our ESG progress.

ETHICS AND BUSINESS CONDUCT

UGEP’s foundation is built upon the highest ethical standards. We always act with integrity – taking responsibility for our work, caring for our employees, and staying focused on safety and sustainability.

We treat every individual with respect and fairness, fostering a diverse and inclusive environment. Our commitment to ethical excellence guides us in making responsible choices that not only benefit our business but also contribute positively to the community and the world at large.

All of UGEP — from chairman to management to team members — is expected to read and commit to UGEP’s Ethics and Business Conduct Principles. We also expect our suppliers and other partners that we work with to behave in ways that reflect our principles.

The [email protected] is UGEP’s independent whistleblowing platform through which both internal and external stakeholders can raise concerns they reasonably believe indicate wrongdoing or malpractice without fear of victimization or subsequent discrimination.

Diversity, Equity, and Inclusion

UGEP has signed the Women’s Empowerment Principles (WEPS) with UN Women. Women and minority populations at UGEP play an essential role in accelerating the technological revolution. Both within UGEP and the wider communities, we consider people and relationships to be central to our success.

“Gender Equality and protection of the environment go hand in hand. Women should be listened to and their experience considered so they can contribute to the solutions in the escalating problem of Climate Change.

For a society to be economically sustainable, men and women should have equal opportunity, rights, and obligations.”

— Ruth Yu-Owen, President & CEO

“Gender Equality and protection of the environment go hand in hand. Women should be listened to and their experience considered so they can contribute to the solutions in the escalating problem of Climate Change.

For a society to be economically sustainable, men and women should have equal opportunity, rights, and obligations.”

— Ruth Yu-Owen, President & CEO

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Empower your future

Contact us

Address
Unit 2604, 88 Corporate
Center Sedeño St. cor
Valero St. Salcedo Village,
Makati City

Telephone
+63 (2) 70016583