The Energy Regulatory Commission (ERC) has slapped system operator National Grid Corporation of the Philippines (NGCP) with P3.5 million worth of penalties for at least 10 transmission projects that it failed to deliver on targeted commercial operations date. A statement from the regulatory body...
While warning that the country braces for energy transition that will be expensive, Energy Secretary Raphael P.M. Lotilla has appealed to banks and other financial institutions for longer tenor on loans that will be funneled to power projects across technologies as a way to soften cost impact on...
Hopes are raised for prospective discovery of new oil and gas resources in the country as well as for trailblazing native hydrogen ventures, with the eight qualified offers cornered by the Department of Energy (DOE) during an auction round concluded this week. In a statement to the media, the...
Vice President Sara Duterte is no longer hopeful that the projects she envisioned for the Office of the Vice President (OVP) would still be possible given the political climate in the country. Vice President Sara Duterte (Photo from Inday Sara Duterte Facebook page) In her opening remarks at...
While the green halo of renewables is highly regarded as the planet’s ultimate shield against climate change risks, the flourishing ‘silent infiltration’ of terrorist financing in many energy markets around the world is a ‘dark undercurrent’ that Philippine financial regulators will be...
With the scheduled submission of applications by Aug. 27, the Department of Energy (DOE) has raised hopes that it can corner acceptable tenders for offered hydrogen investments as well as upstream petroleum ventures, especially in the pioneering auction round for the Bangsamoro Autonomous Region in...
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...
The National Home Mortgage Finance Corp. (NHMFC), Department of Human Settlements and Urban Development (DHSUD), local government units of Isabela, and Uanjelle Land Inc. recently signed a memorandum of agreement for the construction of three housing projects in the municipalities of Gamu, Jones,...
With leaner aggregate revenues logged in the six-month stretch, the net income of Alsons Consolidated Resources Inc. (ACR) in the first half had declined by roughly 10% to P1.06 billion from the year-ago level of P1.17 billion. If reckoned solely on second quarter performance, the company’s...
On account of higher finance charges that it incurred due to direct equity acquisitions, the net income of Yuchengco-led of PetroEnergy Resources Corporation (PERC) had declined 11% to P527 million in the first half of the year from heftier P591 million in the same period last year. The company...
(Arnold Quizol/MANILA BULLETIN) The Department of Environment and Natural Resources (DENR) is currently evaluating the environmental compliance certificate (ECC) of several reclamation efforts in the Manila Bay, particularly to see whether or...
Representatives from the Office of the Presidential Adviser on Peace, Reconciliation and Unity (OPAPRU) and local government officials hold a groundbreaking ceremony for the construction of PAMANA projects worth P89.9 million in Brgy. Poswoy, Balbalan, Kalinga on Aug. 6, 2024. (Photo: OPAPRU)...
