Philippine firms face mounting pressure to adapt to worsening climate risks as recurrent flooding erodes productivity, threatens jobs, and drives businesses to relocate, prompting the World Bank to call for faster investments in resilient infrastructure, energy efficiency, as well as renewable...
The Philippines, still under a state of national energy emergency, has secured a record $1.02-billion World Bank Group (WBG) financing package to help lower electricity costs, accelerate renewable energy (RE) adoption, and strengthen water services nationwide. In a press release dated June 25 and...
The Asian Development Bank (ADB) has approved an up to $30-million equity investment in a regional infrastructure fund that will bankroll projects, including those in the Philippines, to support energy transition and digital infrastructure in Southeast Asia. Documents showed that the Manila-based...
Investment czar and Department of Finance (DOF) Secretary Frederick D. Go is advancing the development of what is expected to become the Philippines’ and Southeast Asia’s first offshore wind farm, reinforcing the Marcos administration’s push to attract large-scale renewable energy (RE)...
Yuchengco-led PetroGreen Energy Corp. (PGEC) advanced three major clean energy projects closer to full commercial operations after securing regulatory and market approvals over the past two months. In a statement on Friday, June 26, the company announced that its subsidiary, PetroWind Energy Inc.,...
The Philippine Economic Zone Authority (PEZA) is banking on the government’s newly issued investment framework to drive renewable energy (RE) investments into the country’s ecozone system. On the sidelines of the PhilEnergy expo, PEZA Director General Tereso Panga said the investment promotion...
To address the growing power demand in Mindanao, state-run National Power Corp. (Napocor) is set to gradually switch on multiple power units of the Agus-Pulangi hydroelectric plants through the end of this month until August. In a statement on Wednesday, June 24, Napocor said its power assets are...
Manuel V. Pangilinan-led Manila Electric Co. (Meralco) and its power generation arm are partnering with Vietnam-based VinEnergo Energy Joint Stock Co. (VinEnergo) to explore about five gigawatts (GW) worth of renewable energy (RE) projects in the Philippines. In a statement on Tuesday, June 23,...
We’ve been here before. Sitting in front of a so-called "new breed" of stars, all eager, excited, and endlessly hopeful. It rubs off on us easily. We smile. Caprice Cayetano, Heath Jornales, Marco Masa, and Clifford don 't look or feel very different from the talents we met years back. We...
For decades, the relationship between Filipino consumers and their electricity providers was entirely one-sided. If you lived in Metro Manila, you paid whatever the Manila Electric Co. (Meralco) billed you. If the summer heat strained the power plants feeding the high-voltage lines of the National...
SINGAPORE — The Philippines is among the countries best positioned to help meet Asia’s rapidly growing electricity needs, with its rich geothermal resources as well as expanding wind and solar sectors offering significant potential for renewable energy (RE) development, according to...
Amid a prolonged global oil crisis, the Philippines is poised to secure fresh grant and loan financing from bilateral as well as multilateral partners to support power-sector reforms and the transition to more renewable energy (RE) sources. United States (US) aid agency Millennium Challenge Corp....
