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Commission Decision No. 13-M-011/2018 Acquisition by Alterpower Specialist, Inc. of Shares in Enfinity Philippines Renewable Resources Fourth, Inc.
ABSTRACT:
The proposed transaction involves the acquisition by Alterpower Specialist, Inc. (Alterpower) of shares in Enfinity Philippines Renewable Resources Fourth, Inc. (EPRRI4).
Alterpower is a domestic corporation authorized to engage in the development and operation of solar energy power projects. Its ultimate parent entity is Clean Renewable Energy Solutions Philippines, Inc., also a domestic renewable energy company.
EPRRI4 is a domestic corporation engaged in the exploration, development and utilization of renewable energy resources. It owns and operates the Digos Solar Power Plant in Digos City, Davao del Sur. Digos Solar Power Plant, which is directly connected to the Mindanao Grid, is EPRRI4’s sole operating asset, which is its sole operating asset.
After the transaction, Alterpower will own 65% of EPRRI4’s outstanding capital stock.