Competition watchdog clears Kepco's buy into Solar Philippines unit

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The Philippine Competition Commission (PCC) has approved Kepco Philippines Holdings, Inc.’s acquisition of shares in Solar Philippines Calatagan Corporation.

PCC has cleared Kepco’s plan to acquire a 38% interest in Solar Philippines Calatagan Corporation, a subsidiary of Solar Philippines.

Kepco PH is a wholly-owned corporation of Korea Electric Power Corporation that is engaged in the business of power generation in the Philippines. Solar Philippines, the country’s largest solar energy provider, is a domestic corporation that owns and operates a 63.3 MW solar generating unit in Calatagan, Batangas

In the Commission decision made on December 4, 2018, the Mergers and Acquisitions Office (MAO) of the PCC found that the transaction does not result in substantial lessening of competition in the power generation market.

PCC, the country’s anti-trust body, is mandated under the Philippine Competition Act to review mergers and acquisitions to ensure that these deals will not harm the interest of consumers.

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