Aboitiz Power Corporation has acquired a 137.48-megawatt solar power project in Ubay, Bohol for P505 million, bolstering the province’s growing reputation as a renewable energy hub after it received national recognition for its clean energy program.
The Department of Energy’s (DOE) Visayas field office on Monday recognized Bohol as an Energy Champion, Leader, Achiever and Pioneer (ECLAP), citing the province as the first local government unit in the Visayas to establish a renewable energy policymaking body.
The timing coincides with Aboitiz Power’s expansion in the province.
The company’s renewable energy arm, Aboitiz Renewables Inc, completed the acquisition of full ownership of Ubay Solar Corp on Dec. 12, 2025 after exercising a call option agreement with Ignis Philippines Development Inc, according to a company disclosure.
The transaction covered all outstanding shares of Ubay Solar, which is developing a greenfield solar facility in the province.
“The acquisition supports our broader strategy to scale up our renewable energy platform,” Aboitiz Power said, adding it would help accelerate clean energy capacity growth as the country transitions from fossil fuels.
The DOE said Bohol’s Renewable Energy Board has enabled increased investments and coordination in renewable energy development across the province, which also hosts wind projects in Anda and solar installations in Dagohoy.
Provincial officials said the national recognition positions Bohol as a model for sustainable energy governance and is expected to attract more investors to the sector.
The province is also the Philippines’ only UNESCO Global Geopark.
Aboitiz Power’s board approved the Ubay Solar acquisition in April, with the call option agreement signed in January.