Aboitiz Power Corporation has announced the impending dissolution and business closure of Cebu Private Power Corporation (CPPC), its joint venture with the Vivant Group. This development follows the Securities and Exchange Commission’s approval of an amendment to CPPC’s Articles of Incorporation, which shortens the company’s corporate term until December 31, 2026.

The disclosure was filed by AboitizPower on July 7, under SEC Form 17-C, pursuant to compliance with the Securities Regulation Code and disclosure regulations of both the Philippine Stock Exchange (PSE) and Philippine Dealing & Exchange Corp. (PDEx).

CPPC, a pioneering embedded power generation company in Cebu, has long supplied diesel-fired electricity to the Visayas grid and local utilities. The move to cease operations aligns with the industry’s broader shift toward sustainable and renewable energy sources.

The disclosure did not specify the reasons for the joint venture’s closure nor the next steps for the facility or its workforce.

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Photo credit: AboitizPower