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Universal Power Solutions, Inc., a wholly-owned subsidiary of San Miguel Global Power Holdings Corp. , signed financing agreements worth P40 billion for its battery energy storage system projects.
The company, in its capacity as shareholder of UPSI, said it also entered into such relevant agreements as sponsor and shares security grantor of UPSI in the project financing. It is building 32 battery storage stations, the first and largest network in the country, and among the largest integrated battery storage networks in the world.
San Miguel Corp. president and chief executive Ramon Ang said during the inauguration ceremonies of the BESS facilities in Bataan early this year that BESS is an important global innovation in the energy sector, one that would enable stable and reliable power to reach even far-off areas.
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