European firm Mainstream Renewable Power (Mainstream) has signed service contracts with the Department of Energy (DOE) for two greenfield onshore wind power projects to be developed separately at demarcated sites in Luzon and Visayas grids. The service contracts were secured by Mainstream on 100%...
Renewable energy (RE) is set to be the top source of electricity in 2025, the latest International Energy Agency report states. India, in turn, is building the “world’s largest RE project” named Khavda Renewable Energy Park, which can power 16.1 million Indian homes once completed in...
Veritable clean energy developer Citicore Renewable Energy Inc. (CREC) is targeting to beef up its operating solar portfolio with additional 69-megawatt peak (MWp) capacity upon the commercial operations of its second solar farm project in Negros Occidental. The construction of the firm’s...
Integrated solar developer SP New Energy Corp. (SPNEC), now a member of the Meralco Group, has replaced MREIT Inc. in the exclusive and coveted MSCI Philippines Small Cap Index. Source: MSCI, First Metro Securities The addition of SPNEC and deletion of MREIT are the only changes in the closely...
Foreign investors interested in entering the Philippines' renewable energy sector will be required to secure 167 signatures before they commence operations. While this may seem like a daunting number to many, an industry stakeholder pointed out that this requirement has already been reduced from...
MGen Renewable Energy Inc. (MGreen), a unit of Manila Electric Company (Meralco), has bought an additional 2.17 billion shares in SP New Energy Corporation (SPNEC) from Solar Philippines Power Project Holdings Inc. for P2.5 billion. In a disclosure to the Philippine Stock Exchange (PSE), SPNEC said...
Japanese firm Tokai Corporation is beefing up its shareholdings in Filipino-listed firm Repower Energy Development Corporation (REDC), which is into development of various renewable energy (RE) projects in the country. Tokai first subscribed into 65 million common shares of REDC, and that warranted...
The Philippine Stock Exchange (PSE) has approved the listing of the shares of Citicore Renewable Energy Corporation (CREC) to pave the way for its planned initial public offering (IPO) worth up to P12.94 billion. In a statement, the firm said it has received a notice from the PSE the Notice of...
MGen Renewable Energy Inc. (MGreen), a subsidiary of Manila Electric Company (Meralco), has completed its P15.9 billion acquisition of a controlling stake in SP New Energy Corporation (SPNEC). This comes after the Securities and Exchange Commission (SEC) approved the amendment to SPNEC’s articles...
The feed-in-tariff allowance (FIT-All) fund is seen teetering on deficit by February billing, hence, that prompted the Energy Regulatory Commission (ERC) to re-impose next month the collection of the P0.0364 per kilowatt hour (kWh) subsidy for the qualified renewable energy (RE) projects. “As the...
Filipino-led Citicore Renewable Energy Corporation (CREC) will fork out P35 billion worth of capital expenditures (capex) for this year, primarily to advance the completion and commercial operations of the first batch of its gigawatt-scale solar installations. In an interview with the media, CREC...
The government of Norway, in collaboration with sustainable crop nutrition solutions specialist, Yara Fertilizers Philippines, Inc. (Yara), has been aiding Filipino farmers jack up productivity at their farm lands while shifting on their technology use to solar-powered water pumps. Via the “Agos...
