Aboitiz Renewables Inc., a subsidiary of Aboitiz Power Corporation, has agreed to invest ₱750 million to secure a 60% equity stake in Manolo Fortich Power Corporation, a subsidiary of Walter Brown’s A Brown Company Inc.
The investment will fund the development, construction, financing, and operation of a 191-megawatt alternating current solar power generation plant. The project will feature an integrated battery energy storage system and associated interconnecting facilities located in Barangay Dalirig, Manolo Fortich, Bukidnon.
According to AboitizPower’s disclosure to the Philippine Stock Exchange (PSE), the capital injection will take place in multiple stages:
- Initial Payment: Aboitiz Renewables will pay ₱3.75 million in cash upon executing the pre-capital increase agreement, subscribing to 3.75 million common shares at ₱1 per share.
- Capital Expansion: Following regulatory approval from the Securities and Exchange Commission (SEC) to expand the company’s authorized capital stock, Aboitiz Renewables will inject an additional ₱746.25 million for 74.63 million redeemable preferred shares priced at ₱10 each.
The total transaction value accounts for less than 10 percent of AboitizPower’s consolidated assets as of year-end 2025.
Manolo Fortich operates as an indirect, wholly owned subsidiary of A Brown Company Inc., a Philippine holding firm managing real estate, agriculture, and energy assets. A Brown oversees its power portfolio through ABC Energy Inc., which includes Mindanao-based thermal peaking plants and a pipeline of renewable energy projects.
The binding development agreements were approved by the board of directors of Aboitiz Renewables on August 18.
Final completion of the partnership remains subject to customary closing conditions, including successful legal, technical, financial, tax, and land due diligence reviews, alongside formal regulatory approvals.