Aboitiz Power Corp. said Tuesday wholly-owned subsidiary Aboitiz Power International Pte. Ltd. signed a compromise agreement with SunE Solar B.V. of the Netherlands that will allow the former to fully own a 59-megawatt solar power plant in San Carlos City, Negros Occidental. Aboitiz Renewables is a wholly owned subsidiary of Aboitiz Power and an affiliate of AP International. Under the agreement, Aboitiz Power International will acquire the entire issued and outstanding shares of SunE Solar in SunEdison Philippines. Aboitiz Power, which already owns 60 percent of Maaraw and Sacasun, through Aboitiz Renewables, will increase its ownership to 100 percent.

Source: The Standard July 11, 2017 12:56 UTC