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  • Writer's pictureBy The Financial District

APX And UGEP: Powering Solar Growth

Aboitiz Power Corporation's subsidiary, AboitizPower Distributed Renewables, Inc. (APX), has announced a joint venture with Upgrade Energy Philippines, Inc. (UGEP) to advance rooftop solar projects in the Philippines.

Photo Insert: APX and UGEP Collaborate to Drive Rooftop Solar Projects in the Philippines. Pictured from left to right: AboitizPower First Vice President - Head of Retail, James Byron Yu; UGEP President and CEO, Ruth Yu-Owen; AboitizPower Vice President, David Mikel Aboitiz; and UGEP Vice President for Development, Pieterjan Vanbuggenhout, come together to solidify the partnership's commitment to sustainable energy solutions.

The partnership aims to expand APX's rooftop solar initiatives for commercial and industrial (C&I) businesses in the country, leveraging UGEP's expertise in solar and renewable energy project development.

By combining UGEP's proficiency in engineering, procurement, and construction with APX's vision of renewable energy expansion, the joint venture seeks to tap into the significant potential for growth in the renewable energy sector.

The primary focus will be on developing and operating distributed solar systems tailored to the large Commercial & Industrial (C&I) market. These solar energy facilities will be designed to meet the specific requirements of prospective and existing C&I businesses under the AboitizPower Retail group portfolio.

UGEP has gained a reputation for delivering high-quality and cost-competitive solar energy and energy efficiency projects, making them an ideal partner for this endeavor. The collaboration will enable APX to strengthen its customer-centric approach while driving the energy transition in the country.

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James Byron Yu, AboitizPower's First Vice President and Head of Retail, emphasized the partnership's significance in embracing sustainability and customer-centricity.

Yu stated, "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."

Business: Business men in suite and tie in a work meeting in the office located in the financial district.

Ruth Yu-Owen, President and CEO of UGEP, acknowledged the pivotal role of decentralized generation in helping businesses adopt more sustainable energy solutions.

She expressed her enthusiasm for partnering with APX, stating, "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."

Entrepreneurship: Business woman smiling, working and reading from mobile phone In front of laptop in the financial district.

AboitizPower is a leading power producer in the Philippines, holding investments in power generation, distribution, and retail electricity services.

The company is committed to uplifting the lives of the Filipino people and contributing to a better world. With a diverse portfolio of assets across the country, including hydroelectric, geothermal, solar, and thermal power plants, AboitizPower is a significant player in renewable energy.

Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

The company aims to reach a 35% share of renewable energy in the power generation mix by 2030 and continues to invest in various indigenous energy sources, such as solar, hydro, geothermal, wind, and energy storage systems.

The joint venture between APX and UGEP marks a significant step toward achieving AboitizPower's renewable energy goals while providing customized solutions to meet the evolving needs of businesses in the Philippines.

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