JERA invests in Aboitiz Power

JERA Co., Inc. has decided to acquire 27% of the outstanding shares of Aboitiz Power Corporation, a major power utility in the Philippines, for approximately US$1,58 billion. The company has executed a share purchase agreement with Aboitiz Equity Ventures Inc. and Aboitiz & Company.

Aboitiz Power is the holding company for the Aboitiz Group’s investments in power generation, distribution, and retail electricity services. The company is one of the largest power producers in the Philippines with a balanced portfolio of assets located across the country. In addition, the company owns distribution utilities, which operate in high-growth areas in Luzon, Visayas, and Mindanao, including the second and third largest private utilities in the country.

Completion of the transaction, subject to necessary approvals, will further enhance JERA's presence in the Philippines’ energy sector.