C06038-2023

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Aug 4, 2023
2. SEC Identification Number
C199800134
3. BIR Tax Identification No.
200-652-460-000
4. Exact name of issuer as specified in its charter
ABOITIZ POWER CORPORATION
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
32nd Street, Bonifacio Global City, Taguig City, Metro Manila, Philippines Postal Code 1634
8. Issuer's telephone number, including area code
(02) 8886-2800
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Stock P1 Par Value 7,358,604,307
Amount of Debt Outstanding (As of Mar. 31, 2023) 247,328,949,000.00
11. Indicate the item numbers reported herein
9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Aboitiz Power CorporationAP

PSE Disclosure Form 4-22 - Joint Ventures References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Joint Venture Agreement between Aboitiz Renewables, Inc. (ARI), Aboitiz Power Corporation’s (AboitizPower or the “Company”) wholly-owned subsidiary, and 7 Balboa Energy Holdings, Inc. (“7Balboa”)
Background/Description of the Disclosure

ARI, the renewable energy subsidiary of AboitizPower, signed a joint venture agreement with 7Balboa, to invest in 4 Barracuda Energy Corp.’s (“4BEC”) greenfield 102-Megawatt (MW) Wind Power Project in Rizal and Laguna (the “Wind Power Project). 7Balboa is an investee company of Vena Energy, a leading renewable energy company in the Asia-Pacific region headquartered in Singapore.

The Board of Directors of ARI approved the transaction on May 18, 2023.
Date of Approval by Board of Directors May 18, 2023
Date of Approval by Stockholders, if applicable N/A
Description and nature of the transaction including the timetable for implementation, and related regulatory requirements

Investment into a 102 MW greenfield project, which is expected to reach financial close in 2024 and commercial operations in 2025.
Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction

This collaboration combines the experience, vision and financial capability of AboitizPower, through ARI, and Vena Energy's established track record in development, construction, and operation of renewable energy assets across APAC, and their shared ambition of growing the Philippine renewable energy generation portfolio in the coming years. Through ARI, AboitizPower is taking decisive steps towards the Company’s long-term objective of growing its renewable energy capacity and striking a 50:50 balance between its renewable and thermal portfolios by 2030.
Terms and conditions of the joint venture
Amount of investment and/or interest by the parties involved

Total project cost is to be determined by the parties.
Provisions on profit-sharing, arrangements on management and operations

Provisions on profit-sharing, and arrangements on management and operations are to be determined by the parties.
Conditions precedent to closing of transaction, if any

The closing of the transaction was subject to conditions precedent, including board approvals.
Other salient features of the joint venture agreement

N/A
Identity and/or corporate background of the parties to the transaction, including the following
Name Nature of Business Nature of any material relationship with the Issuer and the parties to the joint venture, their directors/officers or any of their affiliates
7Balboa Holding company None
4BEC Renewable energy developer None
Effect(s) on the business, financial condition and operations of the Issuer, if any

The joint venture is expected to grow AboitizPower’s renewable generation portfolio in the coming years.
Other Relevant Information

Please refer to attached Press Release entitled "Aboitiz Renewables, Vena Energy enter into JV for 102 MW Rizal-Laguna Wind Power Project".
Filed on behalf by:
Name Ma. Clarisse Osteria
Designation Asst. Corporate Secretary