AboitizPower takes over Bohol solar farm for P505 M

Aboitiz Power Corp. has acquired full ownership of Ubay Solar Corp., the developer of a large-scale solar farm in Bohol, for $8.55 million or roughly P505 million.

- By BRIX LELIS

The company, through subsidiary Aboitiz Renewables Inc., signed a deed of assignment of shares of stock with Ignis Philippines Development Inc. involving the latter’s 100 percent equity interest in Ubay Solar.

“This acquisition accelerates AboitizPower’s strategic goal to increase its clean energy capacity and solidify its market position as a leader committed to supporting the Philippines’ sustainable energy transition.”