Luzon is positioned to become the primary engine of the Philippines’ renewable transition as the Department of Energy (DOE) oversees 11.7 gigawatts (GW) of awarded hydropower potential, driven largely by massive pumped-storage developments. Based on the latest DOE data, the country is expecting a...
The Ayala Group’s Bank of the Philippine Islands (BPI) reinforced its leadership in sustainable finance, supporting some of the country’s largest and most transformative renewable energy (RE) projects through a series of landmark financing deals worth a total of ₱376 billion. Helping advance...
The Government Service Insurance System (GSIS) expanded its investment in Citicore Renewable Energy Corp. (CREC) to ₱4.5 billion, completing a series of secondary-market purchases that finalized builder Megawide Construction Corp.’s exit from the solar producer. CREC disclosed to the...
The Makati City government has launched the first phase of its renewable energy transition, with 11 major city-owned facilities now running entirely on clean power to reduce carbon emissions from government operations. The local government said the switching ceremony, held at Makati City Hall on...
Philippine firms face mounting pressure to adapt to worsening climate risks as recurrent flooding erodes productivity, threatens jobs, and drives businesses to relocate, prompting the World Bank to call for faster investments in resilient infrastructure, energy efficiency, as well as renewable...
The Philippines, still under a state of national energy emergency, has secured a record $1.02-billion World Bank Group (WBG) financing package to help lower electricity costs, accelerate renewable energy (RE) adoption, and strengthen water services nationwide. In a press release dated June 25 and...
The Asian Development Bank (ADB) has approved an up to $30-million equity investment in a regional infrastructure fund that will bankroll projects, including those in the Philippines, to support energy transition and digital infrastructure in Southeast Asia. Documents showed that the Manila-based...
Investment czar and Department of Finance (DOF) Secretary Frederick D. Go is advancing the development of what is expected to become the Philippines’ and Southeast Asia’s first offshore wind farm, reinforcing the Marcos administration’s push to attract large-scale renewable energy (RE)...
Yuchengco-led PetroGreen Energy Corp. (PGEC) advanced three major clean energy projects closer to full commercial operations after securing regulatory and market approvals over the past two months. In a statement on Friday, June 26, the company announced that its subsidiary, PetroWind Energy Inc.,...
SP New Energy Corp. (SPNEC) is pursuing its backdoor listing with renewable energy (RE) unit MGEN Renewable Energy Inc. (MGreen), a year after announcing its plans for asset injections. In a disclosure to the Philippine Stock Exchange (PSE) on Thursday, June 25, SPNEC said it has approved an...
The Philippine Economic Zone Authority (PEZA) is banking on the government’s newly issued investment framework to drive renewable energy (RE) investments into the country’s ecozone system. On the sidelines of the PhilEnergy expo, PEZA Director General Tereso Panga said the investment promotion...
To address the growing power demand in Mindanao, state-run National Power Corp. (Napocor) is set to gradually switch on multiple power units of the Agus-Pulangi hydroelectric plants through the end of this month until August. In a statement on Wednesday, June 24, Napocor said its power assets are...
