Local firm Solar Philippines is prepping up for its planned initial public offering (IPO) at the local bourse, according to company executives. The firm, which was founded by young businessman Leandro Leviste, has recently tapped power industry hotshot Marty Crotty as its new Chief Executive...
US firm Enphase Energy Inc. has partnered with MSpectrum, a subsidiary of Manila Electric Company (Meralco), for the distribution of the former’s products to residential and commercial end-users opting to draw their energy needs from solar installations. In an announcement at its...
Despite the Department of Energy’s (DOE) moratorium on new coal projects, it was specified that the coal ventures of state-run Philippine National Oil Company-Exploration Corporation will not be covered by that investment prohibition. Energy Secretary Alfonso G. Cusi qualified the PNOC-EC...
Ayala-owned upstream petroleum firm ACE Enexor Inc. has kicked off its search for a deep-pocketed and technically experienced partner for its planned oil and gas exploration venture at an offshore block in Northwest Palawan. ACE Enexor Chairman and CEO Eric T. Francia “We’re beginning to...
The advent of bad news seems endless for Filipino motorists, as diesel prices will increase again by P0.50 per liter this week, according to the industry players. For kerosene, a commodity on which people barreled by the typhoon could partly lean on while waiting for their electricity services to...
Ayala-owned AC Energy Philippines is breaking free from coal-fired generating facilities, hence, it is casting the divestment of its shareholdings in the 1,336-megawatt Dinginin power project and the 360MW Mariveles coal plant, its...
Uy-led UC Malampaya Philippines Pte. Ltd. is seeking resolution of the P27.3-billion dispute on capacity payments for the 1,200-megawatt Ilijan gas-fired power project; and it formally lodged this concern in a Senate hearing as one of the major issues that the company wants to be accorded with...
Alcantara-led Alsons Consolidated Resources Inc. has secured the approval of its board for the targeted issuance of P3.0 billion worth of commercial papers (CPs) as part of its forward fund-raising activity. The company said the CPs are “to be issued in one or more tranches,” within the...
Scion Manuel “Beaver” L. Lopez Jr. has been designated board director at listed firm First Gen Corporation, taking the seat vacated by his cousin Eugenio “Gabby” L. Lopez III, who bowed out from the company’s board last September. Manuel “Beaver” L. Lopez Jr. (Photo credit:...
With the West Philippine Sea already legally opened by the government for oil and gas exploration, Energy Secretary Alfonso G. Cusi has intensified his call on neighbor-countries in the Southeast Asian region to join in the ‘upstream exploration ventures’ in Philippine waters. In his address at...
The energy investment arm of the Ayala Group will be raising additional US$500 million to US$600 million from its targeted cash-raising activities next year, so it can cover the bulk of equity that it will need to inject on its targeted renewable energy (RE) projects in the Philippines and...
The remaining potential yield of the Malampaya gas production facility could go as high as 1.6 trillion cubic feet (TCF), or half of the current capacity of the field that is now being funneled for the requirements of more than 3,200 megawatts of gas-fired power capacities in the country. That has...
