Ayala-led firm AC Energy Corporation has lowered the scale of proceeds it can fetch from its follow-on offering (FOO) to P13.07 billion from a higher end target of P16.4 billion that it first penciled in early this year. The targeted stream of revenues from the FOO though is still very much within...
Pangilinan-led PXP Energy Corporation has significantly slashed its losses in the first quarter to P5.6 million from a relatively heftier P16.9 million within the same three-month stretch last year. The company’s net loss attributable to equity holders of its parent firm had been at P4.3 million,...
The Manila Electric Company (Meralco)--the local power distribution giant that has been linked by environmentalists to coal--is apparently pivoting toward a "greener" future. (Photo by Karsten Wurth/ Unsplash) This was learned during a recent virtual forum on multi-sector integration of so-called...
The prospective bidders in the 650-megawatt Malaya thermal power plant had been trimmed to two companies, from originally 4 to 5 companies, but state-run Power Sector Assets and Liabilities Management Corporation (PSALM) said it is still keen on divesting the facility via a negotiated deal by May 7...
Project sponsor-firm Vires Energy Corporation (VEC), a subsidiary of listed firm A. Brown Company Inc., has formally admitted to the Department of Energy (DOE) the information lapse on its targeted deployment of floating storage and regasification unit (FSRU) that is tied to its planned liquefied...
The 63-megawatt greenfield Gigasol Palauig solar farm development of Ayala-led AC Energy Philippines Corporation has reached commercial operation phase and is now feeding capacity into Luzon grid. The company injected P2.39 billion into that newly completed project; and its scale of electricity...
Jot down another victory for all the anti-coal advocates out there. Clean energy and consumers rights group Power for People Coalition (P4P) hailed on Wednesday, April 28 the cancellation of the 600-megawatt (MW) Subic coal plant project listed under Redondo Peninsula Energy Inc. (RP Energy),...
Another notice-to-proceed (NTP) permit was granted by the Department of Energy (DOE) for the installation of an offshore liquefied natural gas (LNG) import facility for a total of six ventures approved so far. Approved is Vires Energy Corporation, which was acquired last year of Filipino listed...
The reins of Ayala Corporation have been passed on to a new Zobel but the firm continues to look for fresh opportunities as it is cautiously optimistic about its post-COVID prospects. “We are cautiously optimistic about the business environment and will continue to prepare for a post-...
The Philippine Stock Exchange has approved the stock offerings of Monde Nissin Corporation and AC Energy Corporation which, combined, will raise up to P88.9 billion from the equities market in May. For its initial public offering (IPO), Monde Nissin Corporation will be raising up to P72.45 billion....
Senator Sherwin Gatchalian on Sunday expressed fears that the upcoming power outages next month could affect the government’s rollout of the coronavirus (COVID-19) vaccines. According to Gatchalian, there is a strong possibility several parts of Luzon would be experiencing rotational brownouts...
Power and energy projects registered with the Board of Investments (BOI) jumped by 2,800 percent to P122 billion in the first quarter this year as against P4.2 billion only in the same period in 2020. According to BOI Managing Head Ceferino S. Rodolfo, the latest committed investment is the P1.22...
