The Department of Energy (DOE) announced the 12 potential winning bidders for its third Green Energy Auction (GEA-3), which offers hydropower, pumped-storage hydropower, and geothermal energy contracts. In a notice of award posted on the website DOE on June 9, it listed two developers for...
Citicore Energy REIT Corporation, the country’s first renewable energy real estate investment trust, is considering raising new funds next year to finance the acquisition of additional land for the expansion of its solar farm portfolio. During the firm’s annual stockholders’ meeting, CREIT...
Renewable energy (RE) developer Citicore Renewable Energy Corp. (CREC) has earmarked an even higher capital expenditures (capex) allocation for this year to support the goal to achieve its capacity-building projects for 2025. During the company ’s annual stockholders ’ meeting (ASM) on...
Fuel prices are set to increase ahead of the celebration of Philippine Independence Day on June 12. Effective Tuesday, June 10, gasoline prices will inch up by ₱0.60 per liter, while diesel will go up by ₱0.95 per liter. Kerosene is also set to climb by ₱0.30 per liter. Shell Pilipinas,...
The 'hotness ' of the Philippines for renewable energy investments may be losing its sizzle. Some foreign investors are now quietly slipping out the back door, leaving behind whispers of uncertainty, a trail of unanswered questions about what went wrong, and a half-empty plate of missed...
The Asian Development Bank (ADB) reported that the de-risking strategy for geothermal technologies in the Philippines is attracting investor interest. In a briefing, Pavit Ramachandran, ADB Country Director for the Philippines, noted that despite potential challenges, stakeholders are already...
The Energy Regulatory Commission (ERC) has ordered 22 generation companies (GenCos) to justify the reason behind their derating power plants so far this year. According to the ERC on Thursday, June 5, these GenCos must submit within seven days from the receipt of the letters to explain why their...
DAMASCUS, Syria (AP) — Syria 's new government has agreed to give inspectors from the United Nations ' nuclear watchdog access to suspected former nuclear sites immediately, the agency 's head told The Associated Press on Wednesday. The International Atomic Energy Agency 's...
Meralco PowerGen Corp. (MGen), the power generation unit of Manila Electric Co., announced that it has signed a partnership with Saudi Arabia’s water desalination firm ACWA Power. In a statement on Wednesday, June 4, MGen said it signed an agreement with ACWA to explore renewable energy (RE)...
The Department of Energy (DOE) announced that the Atlantic, Gulf & Pacific Co. of Manila Inc. (AG&P) is ready to help the Philippines in its pursuit of offshore wind (OSW) developments. In a statement on Wednesday, June 4, the DOE shared that AG&P would support the country’s port infrastructure,...
In a continuing push to improve the power situation in off-grid communities, the Department of Energy (DOE) and the Asian Development Bank (ADB) are collaborating on a program to upgrade the off-grid systems of the National Power Corp. (NPC). During the Asian Clean Energy Forum (ACEF), Energy...
The ongoing study of the Philippine Ports Authority (PPA) on at least three regional port facilities that will serve as support infrastructure to the emerging offshore wind industry in the power sector had hit chokepoints, including budget constraints for two of them; while the plug had been pulled...
