TOKYO, Japan - Metro Pacific Investments Corporation (MPIC) intends to close the deal to acquire a strategic interest in coconut products exporter Axelum Resources Corporation before the end of this year despite the need to do further due diligence on the company. In a press briefing, MPIC Chief...
Senator Cynthia Villar told the Department of Environment and Natural Resources (DENR) on Wednesday, Oct. 18 to make a firm decision on the relocation of the residents of Sitio Kapihan where the Socorro Bayanihan Service Inc. (SBSI), or the Socorro "cult" was based. Sen. Cynthia Villar....
The Department of Energy (DOE) will assume responsibility in the ‘foreshore lease agreement’ that the foreign investors will need to enter into with the Philippine government for their offshore wind (OSW) projects. Energy Undersecretary Rowena L. Guevara indicated that the DOE can serve as the...
For Sen. Risa Hontiveros, things could have turned out differently had the Department of Natural Resources (DENR) canceled the Proposed Protected Area Community-Based Resource Management Agreement (PACBRMA) of the Socorro Bayanihan Services Inc. (SBSI) or the so-called Socorro "cult" four years...
Danish investors who are staking huge capital in the country’s renewable energy (RE) sector are batting for clear and transparent rules that shall be instituted by the Philippine government on foreshore and seabed lease arrangements, primarily for offshore wind (OSW) farm installations. In an...
Criminal and administrative charges have been filed before the Office of the Ombudsman (OMB) against San Fernando, Camarines Sur Mayor Fermin M. Mabulo and five barangay chairmen for their alleged involvement in illegal quarrying. The five barangay officials named in the complaint were Barangay...
PetroSolar Corporation (PSC), which is a subsidiary of Yuchengco-led PetroGreen Energy Corporation (PGEC), has cemented a power supply agreement (PSA) with Shell Energy Philippines Inc. for a capacity delivery that shall be drawn from the former’s 20-megawatt Tarlac-2 solar farm that is sited at...
A new process on top of existing requirements for mining firms securing their environment compliance certificates (ECC) may be implemented by the Department of Environment and Natural Resources (DENR) while pursuing the digitalization of all mining-related information and the processing of...
A legal opinion is being sought from the Department of Justice (DOJ) on a targeted memorandum of agreement (MOA) that shall be signed by the Department of Energy (DOE) with the Department of Environment and Natural Resources (DENR) to sort out the concerns of investors on foreshore and seabed...
Publicly-listed Alsons Consolidated Resources, the power firm of the Alcantara Group, is aiming to play a key role in the Philippines’ pivot to clean and secured energy sources, particularly in Mindanao, by increasing its renewable power generation capacity. This is according to Alsons Power...
Uptrend in sales from its operating renewable energy (RE) assets had driven up the net income of Yuchengco-led PetroEnergy Resources Corporation (PERC) to P591 million in this year’s first half versus P506 million a year ago. “Higher electricity sales from its renewable energy (RE) operating...
The National Water Resources Board (NWRB) said on Monday, July 31, that the recent weather disturbances that hit the country have contributed a lot in increasing the water level in Angat Dam and other dams in Luzon. NWRB Executive Director Sevillo David Jr., said the recent monitoring revealed that...
