US-headquartered Fluence Energy, Inc. has completed the 570-megawatt battery energy storage system (BESS) project for leading Philippine energy player SMC Global Power Holdings Corp. (SMCGP) of the San Miguel group. The company emphasized that the project’s completion milestone coincided with the...
Rising summer temperatures and threats of power service interruptions amid surging electric bills could really trigger disappointments among us as we yearn for a “more hopeful story” that can rescue us from these predicaments. On March 31 this year, a bit of that “hope” came to light with...
Power utility giant Manila Electric Company (Meralco) has inked a one-year emergency power supply agreement (EPSA) with South Premiere Power Corporation (SPPC) of the San Miguel group for the delivery of 300-megawatt capacity from March 26, 2023 to March 25, 2024. The supply contract provided for a...
Power utility giant Manila Electric Company (Meralco) divulged that it received new offers for one-year contract to cover 670 megawatts of capacity that will replace the cheaper fixed price contract of the Ilijan gas-fired power plant of South Premiere Power Corporation (SPPC) of the San Miguel...
SMC Global Power Holdings Corporation is planning to raise up to P40 billion from the issuance of bonds consisting of a P30-billion float with an oversubscription of up to P10 billion. This is the initial tranche of the company’s new three-year Shelf Registration program amounting to P60 billion....
San Miguel Corp. (SMC) reported that its group-wide reforestation initiative nationwide has resulted in the planting of 3.8 million trees since 2019 to date. The conglomerate said in a statement that it has recently completed planting over 26,000 trees in Angat, Bulacan together with the town’s...
SMC Global Power Holdings Corp. has retained its highest Issue Credit Rating of PRS Aaa, with a Stable Outlook, from Philippine Rating Services Corporation for its outstanding bond issuances amounting to P73.85 billion. Obligations rated PRS Aaa are of the highest quality with minimal credit risk....
San Miguel Corporation (SMC) power unit SMC Global Power Holdings Corp’s Battery Energy Storage Systems (BESS) technologies will stabilize power supply nationwide; it also ushers the next stage for renewable power in the country. Even as power companies work to avert a looming power crisis in the...
Diversified conglomerate San Miguel Corporation (SMC) is coming clean on its next wave of energy investments, turning it s back on the industry’s old time favorite base coal plants to focus its fresh capital infusion into renewable energy (RE) installations. “We’re executing on our plans to...
ERC hints ‘pricing play’ The country’s giant power firms have been tagged as the culprits in last week’s rotational brownouts with “forced outages’ of their power plants going beyond the time allowance prescribed by the Energy Regulatory Commission (ERC). In a Congressional hearing on...
Diversified conglomerate San Miguel Corporation posted a strong recover in the first quarter of 2021 with net income amounting to P17.2 billion, 15 times better than the P1.1 billion it earned in the same period last year. In a statement, the firm said almost all its major...
German firm Siemens Energy is projecting that economies in the Asia Pacific region will immensely propel energy demand growth within the stretch of two decades or until year 2040. Brian Byrne, senior vice president of Siemens Energy Asia Pacific Hub, said “Asia Pacific’s growth aspirations will...
