The profitability of Yuchengco-led PetroEnergy Resources Corporation (PERC) accelerated by 30-percent to P863 million in 2022 from a leaner P665 million in the prior year. The company indicated that the income upturn had been partly attributed to higher profit contribution of its petroleum...
Spanish and Japanese companies are seriously considering investing in renewable energy in the country, primarily offshore wind projects, according to a source from the Department of Energy. The source indicated that the Spanish company is a new entrant in the Philippine power sector and its...
Ayala-led ACEN Corporation and its partner-firms have signed financial agreement with Asian Development Bank (ADB) and other lenders for their 600-megawatt Monsoon wind farm project estimated to cost over $1 billion in Sekong and Attapeu provinces in Laos. According to ACEN, ADB is the lead arranger...
Two weather systems are bringing cloudy skies with rains over most of the Philippines, the state weather bureau said on Sunday morning, April 9. Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) Weather Specialist Benison Estareja said these two weather systems...
The northeasterly surface windflow or the initial blast of the northeast monsoon or “amihan,” is currently affecting Northern and Central Luzon and may bring partly cloudy to cloudy skies with light rains in the next 24 hours. The LPA is expected continue moving westward and may enter PAR on...
The Department of Energy (DOE) is planning a separate ‘auction call’ for the power supply agreements (PSAs) to be awarded to offshore wind investors via the Green Energy Auction Program (GEAP) of the government. According to Atty Marissa P. Cerezo, director of the Renewable Energy Management...
Copenhagen Infrastructure New Markets Fund (CINMF), an affiliate of Danish fund manager Copenhagen Infrastructure Partners (CIP), will be investing $5 billion to for the commercial development of three greenfield offshore wind farm projects that could bring in 2,000 megawatts of additional power...
Alternergy Holdings Corporation, which just had its debut at the Philippine Stock Exchange (PSE) this Friday, March 24, announced that it will be tapping equity partner for its 100-megawatt Tanay wind farm project in Rizal province. The company said it will do its selection process via the letters...
An estimated P1.031 trillion worth of foreign investments in renewable projects are expected to pour into the Philippines, Trade and Industry Secretary Alfredo E. Pascual announced. In a statement, Pascual said that the biggest of these projects is the P360-billion (€6 billion) offshore wind...
The board of directors of listed Filipino firm Basic Energy Corporation had given go-signal for budget allocation that will enable the company to deploy additional equipment to fully hat could comprehensively gauge the electricity generation potential of its targeted 50-megawatt wind power...
More than a decade ago, the contours of renewable energy (RE) investments in the Philippines had been framed and are being re-shaped through the years – and the nuances of project developments had always been complicated and tricky. Through it all, there’s one company that had witnessed from...
The Department of Energy (DOE) has finally issued the Circular that will ultimately open up the renewable energy (RE) sector to 100 percent foreign ownership, primarily for installations in the wind and solar investment space. Department Circular No. (DC) 2022-11-0034 issued by Energy Secretary...
