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Manila Bulletin devider Business devider Trade & Industry devider AboitizPower RE arm acquires full stake in Bohol solar project

AboitizPower RE arm acquires full stake in Bohol solar project

Published Dec 15, 2025 09:46 am
To continue expanding its renewable energy (RE) portfolio, Aboitiz Power Corp.’s (AboitizPower) wholly owned subsidiary, Aboitiz Renewables Inc. (ARI), has acquired full ownership of a greenfield solar project in Bohol province.
In a disclosure to the Philippine Stock Exchange (PSE) on Monday, Dec. 15, AboitizPower reported that ARI has secured a 100-percent equity interest in Ubay Solar Corp. through an $8.54-million, or around ₱478-million, acquisition.
The solar project, which is currently under development, is expected to reach financial close in 2026, with commercial operations scheduled for 2027.
This 100-percent takeover will allow AboitizPower, through ARI, to grow its generation portfolio over the next few years as it ramps up RE capacity and strengthens its position in the energy transition.
According to data from the Department of Energy (DOE), Ubay solar project has about 137.48 megawatts (MW) of capacity.
It has already conducted a system impact study (SIS) with National Grid Corp. of the Philippines (NGCP) after receiving an endorsement in September 2024.
The DOE also noted that the project has acquired possessory rights and support from the local government unit (LGU).
ARI has recently been making strides in expanding its renewable projects, as it plans to energize more than 300 megawatt-peak (MWp) of solar capacity before the end of the year. In Visayas, it has secured approval to connect its Calatrava solar facility to the grid. This solar project, located in Negros Occidental province, is considered one of the largest operating solar and variable RE facilities in the region.
Last month, it switched on the 92.55-MWp San Manuel solar facility in Pangasinan province, the company’s sixth solar project.
The company’s solar portfolio currently stands at around 614 MW.
Beyond solar assets, ARI, through Thunder consortium, secured the privatized 797-MW Caliraya-Botocan-Kalayaan (CBK) hydropower complex in Laguna province.
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