Japanese firm Tokai Corporation is beefing up its shareholdings in Filipino-listed firm Repower Energy Development Corporation (REDC), which is into development of various renewable energy (RE) projects in the country. Tokai first subscribed into 65 million common shares of REDC, and that warranted...
The Philippine Stock Exchange (PSE) has approved the listing of the shares of Citicore Renewable Energy Corporation (CREC) to pave the way for its planned initial public offering (IPO) worth up to P12.94 billion. In a statement, the firm said it has received a notice from the PSE the Notice of...
MGen Renewable Energy Inc. (MGreen), a subsidiary of Manila Electric Company (Meralco), has completed its P15.9 billion acquisition of a controlling stake in SP New Energy Corporation (SPNEC). This comes after the Securities and Exchange Commission (SEC) approved the amendment to SPNEC’s articles...
The feed-in-tariff allowance (FIT-All) fund is seen teetering on deficit by February billing, hence, that prompted the Energy Regulatory Commission (ERC) to re-impose next month the collection of the P0.0364 per kilowatt hour (kWh) subsidy for the qualified renewable energy (RE) projects. “As the...
Filipino-led Citicore Renewable Energy Corporation (CREC) will fork out P35 billion worth of capital expenditures (capex) for this year, primarily to advance the completion and commercial operations of the first batch of its gigawatt-scale solar installations. In an interview with the media, CREC...
The government of Norway, in collaboration with sustainable crop nutrition solutions specialist, Yara Fertilizers Philippines, Inc. (Yara), has been aiding Filipino farmers jack up productivity at their farm lands while shifting on their technology use to solar-powered water pumps. Via the “Agos...
Gokongwei-led JG Summit, through its renewable energy (RE) subsidiary Merbau Corporation, will be expanding solar investments outside of the conglomerate’s span, so they can similarly help other businesses achieve their decarbonization strategies. The forward business plan is being firmed up...
The Securities and Exchange Commission (SEC) has approved the planned initial public offering (IPO) of Citicore Renewable Energy Corporation's (CREC) primary and secondary shares for as much as P12.94 billion. In its Jan. 16 meeting, the Commission En Banc resolved to render effective the...
State-run National Power Corporation (NPC) is eyeing to expand its cooperation with Korea Water Resources Corporation or K-Water, primarily on the sphere of dam safety – given that sizeable pie of the country’s power supply is still drawn from hydropower facilities. The planned expanded...
Advocates for the Philippine economy on Thursday, Jan. 4, called on the government to remove restrictive economic provisions on full foreign ownership in the Constitution. Foundation for Economic Freedom Inc., a group composed of former finance secretaries and businessmen, said in a statement that...
Aboitiz Power Corp. (AboitizPower) is bracing for a challenging year, with expectations of increased electricity demand, global supply chain uncertainties, and the impact of the El Niño phenomenon creating tight market conditions. In a statement, Emmanuel Rubio, AboitizPower president and chief...
The renewable energy unit of ACEN Corp. and Barito Renewables have completed the acquisition of wind projects under development in Indonesia. ACEN told the Philippine Stock Exchange that the acquisition, carried out through its subsidiary ACEN Renewables International, and PT Barito Wind Energy,...
