Discovery World, an upscale resort developer owned by the Tiu family, is venturing into renewable energy.
According to a regulatory filing, Discovery World has obtained board approval for an amendment to its articles of incorporation.
This amendment grants the company the authority to invest in solar and other renewable energy businesses as a secondary purpose.
This strategic decision aligns with Discovery World’s plan to invest in solar energy assets at its operational sites and to explore future solar energy projects within the Discovery World Group.
Discovery World recently announced the creation of Viper Energy Corp., a wholly-owned subsidiary intended to act as a holding company for its solar energy assets across operational sites and potential future solar energy endeavors.
Viper Energy has an initial authorized capital of P10 million.
This diversification into renewable energy underscores Discovery World’s commitment to sustainability and mirrors the global shift toward cleaner and environmentally friendly energy sources.
Discovery World is renowned for its operation of prestigious resorts like Discovery Shores Boracay and Club Paradise Palawan.
In addition to its resort business, the group manages Discovery Hospitality Corp., specializing in hospitality management, and operates Discovery Fleet, which engages in cruise ship and dive shop operations.