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Manila Bulletin devider Business devider Trade & Industry devider Aboitiz inks JV with start-up firm UGEP

Aboitiz inks JV with start-up firm UGEP

Published Jul 11, 2023 08:35 am
AboitizPower Distributed Renewables Inc. (APX), a subsidiary of leading energy producer Aboitiz Power Corporation, has cemented a joint venture deal with emerging energy solutions firm Upgrade Energy Philippines Inc. (UGEP) for targeted solar rooftop projects in the country. In a statement to the media, APX indicated that it would be able to leverage on “the expertise of UGEP on solar and other renewable energy (RE) project developments,” primarily in the commercial and industrial (C&I) segments. The Aboitiz firm similarly mentioned engineering, procurement and construction (EPC) as one area that UGEP can delve in, although there were no details provided on the track record already established by the company on this sphere. “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,” APX has reiterated. Distributed power generation entails deployment of technologies or tools that will be within or in close proximity to the end-users of power. In the case of the APX-UGEP tie up, it will be solar photovoltaic (PV) technologies that they will be rolling out. According to James Byron Yu, first vice president and head of Retail at Aboitiz Power, the partnership is deemed as “another step towards embracing customer-centricity while accelerating energy transition in the country.” He noted that their solar projects would be “carefully designed to meet the unique requirements of power consumers.” Yu emphasized that “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.” The partner-firms have not provided details yet on the projects they will be working on and what scale of megawatt-targets they have been setting their sights on moving forward. UGEP President and CEO Ruth Yu-Owen said “partnering with APX allows us to fulfill our goal of promoting widespread adoption of renewable energy in the Philippines.” Typically, the smaller players in the industry tend to merge with their giant counterparts with deep pockets to survive business longevity and to widen business reach  – and that is an oft-repeated cycle happening even in the renewable energy sector of the Philippines. Owen added that “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.”



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partnerships AboitizPower Corp. renewable energy Upgrade Energy Philippines Inc. (UGEP) solar pv
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