The Asian Development Bank (ADB) has approved an up to $30-million equity investment in a regional infrastructure fund that will bankroll projects, including those in the Philippines, to support energy transition and digital infrastructure in Southeast Asia. Documents showed that the Manila-based...
Investment czar and Department of Finance (DOF) Secretary Frederick D. Go is advancing the development of what is expected to become the Philippines’ and Southeast Asia’s first offshore wind farm, reinforcing the Marcos administration’s push to attract large-scale renewable energy (RE)...
The Lopez family majority alleged that First Gen Corp.’s decision to reduce its stake in Prime Hydropower Energy, Inc. (PHEI) from 40 percent to 33 percent is invalid, as it was never presented to the board of directors for approval and lacks a board mandate. The move was made just three weeks...
Approximately 5.3 million Filipinos are expected to benefit from improved government services after about 500 government agencies and facilities across Mindanao were connected under the first phase of the Mindanao Integrated Government Network (MIGN), the Department of Information and...
The majority owners of the Lopez family are stepping up their opposition against First Gen Corp.’s leadership, alleging that the power producer is bearing the entire financial burden of the multi-billion-peso renewable energy deal while securing only a minority position. In a statement on Friday,...
Investigations into alleged irregularities involving infrastructure and flood control projects must go beyond prosecution and serve as a catalyst for institutional reform, Ombudsman Jesus Crispin “Boying” Remulla said on Thursday, June 18. Remulla made the remarks before governance leaders and...
SINGAPORE — The Department of Transportation (DOTr) is confident that more private-sector bidders will participate in the Philippines’ upcoming railway public-private partnership (PPP) projects as the government increasingly taps multilateral development banks (MDBs) to provide financing...
In a bid to address classroom and school facility shortages, the Department of Education (DepEd) has strengthened the framework for its nationwide localized classroom-building program as 79 partner local government units (LGUs) begin infrastructure projects across the country. Through the new...
First Gen Corp.’s independent directors pushed back against critics of its clean energy expansion, stating that the projected annual earnings fully justify the acquisition premium paid to billionaire Enrique Razon Jr.’s Prime Infrastructure Capital Inc. In a joint press statement, independent...
The majority faction of the Lopez family has accused First Gen Corp. Chairman Federico “Piki” Lopez of “doublespeak” for initiating legal action while simultaneously calling for peace talks. The family bloc noted that on the exact same day Piki Lopez publicly welcomed peace with his...
Amid a prolonged global oil crisis, the Philippines is poised to secure fresh grant and loan financing from bilateral as well as multilateral partners to support power-sector reforms and the transition to more renewable energy (RE) sources. United States (US) aid agency Millennium Challenge Corp....
President Marcos said the reconstruction of two school buildings at San Francisco High School in Quezon City demonstrates what the government can accomplish when public funds are used for their intended purpose. During his inspection of the newly completed Dao Building and Henry Sy Sr. Hall on...
