Filipino firm Upgrade Energy Philippines (UGEP) is casting an ambitious target of 700 megawatts for rooftop and ground-mounted solar installations across commercial and industrial (C&I) customers that it is targeting to accomplish by 2028. So far, the first major project delivered by the...
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...
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...
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...
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...
SP New Energy Corp. (SPNEC) has commenced the construction preparations for Terra Solar Philippines, Inc.'s solar project in Nueva Ecija and Bulacan. In a statement on Monday, Jan. 1, SPNEC said it began clearing the site for the 3,500-hectare solar project, which will be owned by its subsidiary...
Ayala-led ACEN Corp. is injecting more capital into its six subsidiaries to bolster the development of renewable energy (RE) projects in the country. ACEN, in its filings with the Philippine Stock Exchange, said that it has entered into agreements for the purchase of unissued shares in Giga Ace 6,...
Tycoon Manuel V. Pangilinan has taken over the helm of SP New Energy Corporation (SPNEC) after Manila Electric Company (Meralco), through MGen Renewable Energy (MGreen), completed its acquisition of a controlling stake in the solar energy firm for P15.9 billion. In a disclosure to the Philippine...
Diversified conglomerate San Miguel Corporation (SMC) is advancing into the phased development of a solar farm that will strategically position the cavernous New Manila International Airport (NMIA) in Bulacan as a carbon-neutral infrastructure – with the kick-off installation targeted to provide...
Renewable energy developer-firm PAVI Green of the Villar group has cemented partnerships with its affiliate Vista Malls and All Home Luzon branches for the provision of solar-generated electricity to these establishments. In a statement to the media, the Villar RE firm indicated that it will be...
Developers of gigawatt-scale floating solar farm projects are in a bind on their project finance-raising activities because of the programmatic environmental compliance certificate (ECC) that may turn out not acceptable as requirement to lenders, especially to foreign banks. In an interview,...
The Department of Energy (DOE) is counting on the capacity contribution of greenfield solar plants that are coming on commercial stream during the summer months, primarily to plug capacity gap arising from the de-rated generation of the hydro plants due to the incursion of El Niño spell. In a...
