ABOITIZ Power Corp. said Tuesday that its joint venture, Advent Upgrade Solar Inc., had partnered with Marcel FoodSciences Inc. for the installation and operation of a 793.6 kilowatt-peak (kWP) solar photovoltaic (PV) system in the latter’s facility in Sibonga, Cebu.
“This partnership with Advent Upgrade Solar Inc. will enable us to operate more efficiently while upholding our core values of honesty, integrity, fairness, respect, and compliance,” Marcel FoodSciences Vice President Melvin Tan said.
Aboitiz said more than 1,000 solar panels would be used to generate nearly 1,401,450 kilowatt-hours (kWh) of renewable energy in its first year.
AdventEnergy Vice President Catherine Del-Villar Pasilaban said they had fostered trust with Marcel FoodSciences by serving as its electricity supply partner for six years.
"Deepening this relationship to include rooftop solar reflects our shared belief that local resources, from seaweed harvested in Philippine waters to the solar energy overhead, hold the power to drive real economic growth, create lasting livelihoods, and move our industries toward a cleaner, more self-sufficient future," she said.
AboitizPower's share price fell by 80 centavos to close at P42.00 apiece on Tuesday.
