Aboitiz Power unit acquires full ownership of Bohol Solar Plant

Aboitiz Renewables, Inc. (“ARI”), a fully-owned subsidiary of Aboitiz Power Corporation (“AboitizPower”), signs a Deed of Assignment of Shares of Stock for the acquisition of Ubay Solar Corp.

AboitizPower was informed by ARI that ARI exercised its call option under a Call Option Agreement with Ignis Philippines Development, Inc. for the acquisition of 100% of Ignis’ shares in Ubay Solar Corp. As a result, ARI acquired 100% equity interest in Ubay Solar Corp.

Through ARI, AboitizPower is continuously growing its renewable energy portfolio. 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.

The terms and conditions of the transaction:

Number of shares to be acquired or disposed: 55,000
Percentage to the total outstanding shares of the company subject of the transaction: 100%
The total purchase price is USD 8,545,173.00.

Ubay Solar Corp. is developing a greenfield solar power project in the Municipality of Ubay, Province of Bohol, which is expected to reach financial close in 2026 and commercial operations in 2027.