Alcantara-led Alsons Consolidated Resources Inc. has secured the approval of its board for the targeted issuance of P3.0 billion worth of commercial papers (CPs) as part of its forward fund-raising activity. The company said the CPs are “to be issued in one or more tranches,” within the...
Scion Manuel “Beaver” L. Lopez Jr. has been designated board director at listed firm First Gen Corporation, taking the seat vacated by his cousin Eugenio “Gabby” L. Lopez III, who bowed out from the company’s board last September. Manuel “Beaver” L. Lopez Jr. (Photo credit:...
With the West Philippine Sea already legally opened by the government for oil and gas exploration, Energy Secretary Alfonso G. Cusi has intensified his call on neighbor-countries in the Southeast Asian region to join in the ‘upstream exploration ventures’ in Philippine waters. In his address at...
The energy investment arm of the Ayala Group will be raising additional US$500 million to US$600 million from its targeted cash-raising activities next year, so it can cover the bulk of equity that it will need to inject on its targeted renewable energy (RE) projects in the Philippines and...
The remaining potential yield of the Malampaya gas production facility could go as high as 1.6 trillion cubic feet (TCF), or half of the current capacity of the field that is now being funneled for the requirements of more than 3,200 megawatts of gas-fired power capacities in the country. That has...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) is soliciting tenders from interested parties for its propounded ‘negotiated deal’ for the divestment of the government-owned Paco-Manila property that is situated in Isla de Provisor in city of Manila. The minimum...
Diversifying conglomerate San Miguel Corporation (SMC) will install a 200-megawatt solar farm to underpin the energy requirements of its P740-billion Bulacan airport project. The company said it wants that mammoth infrastructure venture to become the showcase of ‘clean energy’ investment...
The Department of Energy (DOE) has cornered 1,025 applications for renewable energy (RE) projects as of end-September this year, and this will yield up to 30,597 megawatts (MW) of additional power capacity for the Philippines once advanced to commercial operations. Effectively, this will be more...
Despite the economic malady instigated by the Covid-19 pandemic, Alcantara-led firm Alsons Consolidated Resources Inc. (ACR) posted significant jump on its income to P1.66 billion in the three quarters this 2020, from last year’s leaner P578.70 million. Given the brisk financial performance of...
For its customers adversely affected by recent typhoons, power utility giant Manila Electric Company (Meralco) indicated that the utility firm shall be extending “payment leeway” on the bills of its subscribers. “We will be very considerate to customers affected by these two successive...
Transmission system operator National Grid Corporation of the Philippines (NGCP) set the record straight that it should not be blamed for the severe flooding incidents in Cagayan and Isabela provinces, because the company is not involved in matters relating to the release of water from the Magat...
Consumers’ pockets will be ripped off this week with the massive increases in pump prices at the scale of P1.50 to P1.55 per liter for diesel products; and P1.05 to P1.10 per liter for gasoline products. The oil companies also enforced P1.30 per liter hike in the price of kerosene products, an...
