Giant lender BDO Unibank Inc. has extended P5.6 billion project funding to the 197-megawatt Tuy solar project of Saavedra-led Citicore Renewable Energy Corporation (CREC), a Filipino firm that is calculatedly cementing its stature to become the biggest solar farm developer in the country with its...
With its cash stream boosted by the entry of new capacities from its solar plants, the net income of listed firm Citicore Renewable Energy Corp (CREC) climbed 9.0% to P910 million in 2023 versus P834 million in the prior year. The company’s earnings before interest, taxes, depreciation and...
The Marcos administration ramped up its domestic borrowing, causing a substantial increase in the government's overall financing in the first half of the year compared to the previous year. Data released by the Bureau of the Treasury showed that the national government's gross borrowings totaled...
By MYRNA M. VELASCO The Department of Energy (DOE) has engaged the help of the Bangko Sentral ng Pilipinas (BSP) so they can guide banks and other financing entities on how to navigate the intricate web of capital formation that shall underpin the massive-scale pipeline of renewable energy (RE)...
Ayala-led ACEN Corporation had secured $150 million green term loan to bankroll the development of its pipelined renewable energy (RE) projects in the Asia Pacific region. The credit facility will have a five-year repayment period; and this was availed of via its subsidiary ACEN Renewables...
Esquire Financing, Inc., the Philippines leading non-bank small and medium enterprise (SME) financing company, plans to significantly hike to P10 billion the amount of funds it could lend to customers this year to support entrepreneurs scale up their operations and amid strong appetite for...
Ayala-led ACEN Corporation will be rolling out $1.6 billion worth of capital for 1,600 megawatts (1.6 gigawatts) of greenfield renewable energy (RE) projects that it will be advancing at its home base in the Philippines, as well as in India and Australia. In a media briefing, ACEN President and CEO...
Flourishing solar power developer giant Citicore Renewable Energy Corporation (CREC) has secured P9.0 billion worth of loans from Yuchengco-led Rizal Commercial Banking Corp (RCBC) with an option to increase it to P20 billion; and that will be funneled mainly for the commercial development of its...
The national government’s net financing dropped by 67 percent in January this year, data from the Bureau of the Treasury (BTr) showed. BTr's latest cash operations report showed that total borrowings in the first month of the year amounted to P118.4 billion, down from the P366 billion recorded in...
The Philippines is set to implement at least three measures that would stop the proliferation of terrorism financing, or the entry of funds from abroad to finance terrorist activities, an official of the Anti-Money Laundering Council (AMLC) said. AMLC Secretariat Executive Director Matthew...
President Marcos is expected to rally the international community to honor their commitment to climate change response efforts, particularly climate financing. President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of PPA Pool/Yummie Dingding) Marcos said it will be part of his agenda during his...
Legislators on Tuesday, August 1 expressed their disappointment on the huge amount of public funds the Philippine government is losing due to loan-funded projects that have until now remain unfinished. Former President and current Pampanga Rep. Gloria Macapagal-Arroyo attends the Congressional...
