The Department of Energy (DOE) is eyeing grid integration of up to 94 gigawatts of additional power capacities of projects that are undergoing pre-development phases. Energy Undersecretary Sharon Garin told a Congressional budget briefing that these planned power facilities comprise of 176 targeted...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) has fetched additional P16.76 billion worth of proceeds from the divestment of the power assets previously owned by its precursor-firm National Power Corporation. In a presentation to Congress, PSALM President and CEO...
To prevent service disruptions arising from technical glitch in the operations of the country’s electricity network, system operator National Grid Corporation of the Philippines (NGCP) has strongly called for a "holistic power planning" that will link all systems through the power supply chain....
The Zobels’ Ayala Land Logistics Holdings Corporation (ALLHC) is seeking to ramp up its cold storage business as the industry is seen to grow by at least four times its current size because the need for food logistics in the country remains largely underserved. In a presentation during the...
Metro Pacific Investments Corporation, a diversified conglomerate led by businessman Manuel V. Pangilinan, expects to exceed its core earnings target of P16.1 billion for 2023—higher than its pre-pandemic record core profit of P15.6 billion. During a media briefing, MPIC Chief Finance, Risk and...
Filinvest REIT Corporation (FILRT), the Gotianun group’s real estate investment trust, reported a 20.5 percent drop in net income to P561 million in the first half of 2023 from P706 million in the same period last year. In a disclosure to the Philippine Stock Exchange, the firm said earnings were...
The Department of Energy (DOE) has endorsed at least 74 new projects this year that will advance into the system impact study (SIS) phase by system operator National Grid Corporation of the Philippines (NGCP). SIS refers to an engineering study that will comprehensively assess if additional...
Senator Sherwin Gatchalian on Friday, August 11, commended the Energy Regulatory Commission’s (ERC) decision to suspend the National Grid Corporation of the Philippines (NGCP) inclusion of a three percent (3%) franchise tax in its transmission costs billed to distribution utilities. Sen....
Owing to profit contribution of its all-renewable energy (RE) subsidiary, First Gen Corporation has posted a 30 percent hike in its recurring net income to $167 million, approximately P9.0 billion, in the first half of the year versus $128 million or P7.0 billion, in the same period last...
Greenfield plants and the elevated prices in the Wholesale Electricity Spot Market (WESM) boosted Ayala-led ACEN Corporation profits in the first half this year to P4.2 billion, up 94 percent from P2.2 billion in a comparative period last year. The company’s consolidated revenues had also grown 28...
Aboitiz Power Corp. (AboitizPower) subsidiaries Hedcor and Luzon Hydro Corp. (Luzon Hydro), together with Aboitiz Foundation Inc. (Aboitiz Foundation), donated rice and fuel to host communities hit by typhoon “Egay.” Egay devastated communities in northern parts of Luzon after its landfall on...
The finalization of a P3-billion investment deal between two private companies in the Philippines and Malaysia was hastened with the state visit of President Ferdinand "Bongbong" Marcos Jr. to the foreign country. President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of Malacañang) Marcos said...
