Ayala-led AC Energy Corporation (ACEN) has built up its fresh capital flow to US$1.0 billion, after raising US$400 million new proceeds from its green bonds offering. ACEN Logo The company said it will use the proceeds of its latest capital raising activity to finance its new renewable energy (RE)...
The Philippine Bio-Industries Inc. (PBI), a major carrageenan exporter company, has inked a one-year power supply deal with First Gen Corporation, the country’s clean energy leader, for the latter to provide electricity generated from a renewable energy source. First Gen said the deal with PBI,...
In the cutthroat contest of the retail competition and open access (RCOA) regime of the restructured electricity sector, First Gen Corporation scored another win by cornering Manila Polo Club as its new retail power customer. First Gen will be supplying the electricity needs of the premiere leisure...
Lopez-led First Gen Corporation has beefed up anew its retail electricity market portfolio after signing up Menarco Development Corporation (Menarco), a company controlled by businessman Menardo Jimenez, as its new customer. The Lopez company said Menarco preferred sourcing its power needs from a...
Lopez-led Energy Development Corporation (EDC) listed on Friday (June 25) with the Philippine Dealing and Exchange Corporation (PDEx) the P5.0 billion first tranche of its ASEAN green bonds. The issue, which has been oversubscribed due to buoyed interest of investors, is part of the P15 billion...
Lopez-led Energy Development Corporation (EDC) will be injecting fresh investment of P7.0 billion for a 29-megawatt expansion project at its Bacon-Manito (BacMan) geothermal power facility in the Bicol region. The Palayan binary power facility’s advancement to construction officially broke ground...
After chiding the United States for technically snubbing the Philippines’ offer of energy investments, Energy Secretary Alfonso G. Cusi still tugged his way into courting American firms to pour in capital in geothermal as well as petroleum exploration projects being offered by the country. “We...
Lopez-led Energy Development Corporation (EDC) has tapped California-headquartered GreenFire Energy Inc. for the commercial retrofit of geothermal wells to optimize steam production for its Manahagdong geothermal power facility in Leyte province. The retrofit work for the plant to be carried out by...
Geothermal investors in the country are batting for ‘insurance-type of incentives’ or ‘mitigation fund’ that seeks the “sharing of cost-risks” with the government, so investments in the sector could be reinvigorated. Atty. Fernando Penarroyo, member of the board of trustees of the...
Despite the perceived low capitalization of US$50 million dangled to foreign investors for integrated geothermal resource exploration and power plant development in the country, the Department of Energy (DOE) disclosed that there are no takers yet of the blocks being offered by the government....
Energy Secretary Alfonso G. Cusi The Philippine government has opened full foreign ownership in the geothermal segment of the energy industry, but under the condition that investments must be done in integrated steam resource development and power projects. Energy Secretary Alfonso G. Cusi said he...
