ABZPY Aboitiz Power Corporation (PK)

   By Cris Larano 
 

MANILA--Aboitiz Power Corp. said Wednesday its unit Aboitiz Renewables Inc. has formed a joint venture with U.S. solar-technology manufacturer SunEdison Inc. to build and operate up to 300 megawatts solar-power-generation projects in the Philippines over the next three years.

The joint venture aims to develop the first in a series of utility-scale solar-power projects in the Philippines starting in 2015.

SunEdison has similar arrangements in China and India.

The Philippines has recently approved a Feed-In-Tariff system that allows a higher price for electricity generated from renewable-energy sources such as solar and wind to spur investments in the sector.

Write to Cris Larano at cris.larano@wsj.com

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