Despite the adverse effects of El Niño, Repower Energy Development Corp. (REDC), the hydroelectric power unit of Pure Energy Holdings Corp. (PEHC), posted strong growth in net income in the first nine months of the year. In a statement, the REDC reported that its profit increased by 31 percent to...
Lopez-led First Gen Corporation has signed P20 billion term loan agreement with major local banks - BDO Unibank, Inc. (BDO) and Bank of the Philippine Islands (BPI) – primarily to fund the acquisition of the 165-megawatt Casecnan hydroelectric power project (CHEPP) in Nueva Ecija. As clearly laid...
The Department of Energy (DOE) has cornered at least 13 offers for renewable energy (RE) projects across hydro, geothermal and wind energy technologies that had been auctioned via the 4th Open and Competitive Selection Process (OCSP4) carried out by the agency. The energy department conveyed that...
The Energy Regulatory Commission (ERC) has issued higher feed-in-tariff (FIT) of P6.1110 per kilowatt hour (kWh) for run-of-river (ROR) hydropower facilities that will fill up the balance of the prescribed 250 megawatts cap for this renewable energy (RE) technology. The newly enforced FIT for ROR...
Government-run National Irrigation Administration (NIA) and SN Aboitiz Power (SNAP group had sealed a memorandum of understanding (MOU) that will explore ‘water management’ component of the Alimit hydro project – primarily those that go beyond electricity generation, such as irrigation and...
State-run Power Sector Assets and Liabilities Management Corp. (PSALM) is preparing the terms for the auction next year of the propounded 25-year concession deal for the rehabilitation of the 932-megawatt Agus-Pulangui hydropower assets in Mindanao. According to PSALM President Dennis Edward A....
Investors can now expect greater clarity and transparency in the upcoming Green Energy Auction (GEA-3) program, scheduled for November this year, as the Department of Energy (DOE) announced an end to the "tariff guessing game." To provide a more predictable framework, the DOE said it will be issuing...
The Energy Regulatory Commission (ERC) will seek guidance from the Department of Energy (DOE) in setting the price of hydro and geothermal capacities under the green energy auction reserve (GEAR) given the huge cost for these projects. ERC Chairperson Monalisa C. Dimalanta noted of the cost for...
JABONGA, Agusan del Norte – President Ferdinand R. Marcos Jr. inaugurated the 24.9-megawatt hydropower plant in Lake Mainit, Jabonga town, Agusan del Norte province, on Wednesday, July 12. PRESIDENT Marcos (center) leads the inauguration of the the 24.9-megawatt hydropower plant in Lake Mainit,...
Fresh River Lakes Corp. (FRLC), a subsidiary of Lopez-led First Gen Corporation, has already been served with the "notice of award" on its winning bid for the 165-megawatt Casecnan hydropower facility in Nueva Ecija. In a disclosure to the Philippine Stock Exchange (PSE), the company stipulated that...
Fresh River Lakes Corp, a subsidiary of First Gen Corporation of the Lopez group, submitted a winning bid that dwarfed other offers for the165-megawatt Casecnan hydropower facility, the first power asset privatized under the Marcos administration. According to sources privy to the outcome of the...
Rehabilitating the old Agus-Pulangi hydropower plants in Mindanao will allow the Marcos administration to kill two birds with one stone, says Davao City 1st district Rep. Paolo Duterte. Davao City 1st district Rep. Paolo "Pulong" Duterte (PNA) According to Duterte, rehabilitating the decades-old...
