Banks and other lending institutions are reportedly asking the Department of Energy (DOE) for a categorical definition and conclusive policy framework that shall serve as anchor to prospective financing of ‘transition coal’ projects that are still being allowed by the government for commercial...
Singapore-headquartered investment fund Clime Capital will be injecting up to $10 million for the solar rooftop installations in the commercial and industrial (C&I) space as well utility-scale ventures to be undertaken by Upgrade Energy Philippines (UGEP), a joint venture between Aboitiz Power...
While warning that the country braces for energy transition that will be expensive, Energy Secretary Raphael P.M. Lotilla has appealed to banks and other financial institutions for longer tenor on loans that will be funneled to power projects across technologies as a way to soften cost impact on...
Giant lender BDO Unibank Inc. has extended P5.6 billion project funding to the 197-megawatt Tuy solar project of Saavedra-led Citicore Renewable Energy Corporation (CREC), a Filipino firm that is calculatedly cementing its stature to become the biggest solar farm developer in the country with its...
With its cash stream boosted by the entry of new capacities from its solar plants, the net income of listed firm Citicore Renewable Energy Corp (CREC) climbed 9.0% to P910 million in 2023 versus P834 million in the prior year.The company’s earnings before interest, taxes, depreciation and...
By MYRNA M. VELASCOThe Department of Energy (DOE) has engaged the help of the Bangko Sentral ng Pilipinas (BSP) so they can guide banks and other financing entities on how to navigate the intricate web of capital formation that shall underpin the massive-scale pipeline of renewable energy (RE)...
Ayala-led ACEN Corporation had secured $150 million green term loan to bankroll the development of its pipelined renewable energy (RE) projects in the Asia Pacific region.The credit facility will have a five-year repayment period; and this was availed of via its subsidiary ACEN Renewables...
Ayala-led ACEN Corporation will be rolling out $1.6 billion worth of capital for 1,600 megawatts (1.6 gigawatts) of greenfield renewable energy (RE) projects that it will be advancing at its home base in the Philippines, as well as in India and Australia.In a media briefing, ACEN President and CEO...
Flourishing solar power developer giant Citicore Renewable Energy Corporation (CREC) has secured P9.0 billion worth of loans from Yuchengco-led Rizal Commercial Banking Corp (RCBC) with an option to increase it to P20 billion; and that will be funneled mainly for the commercial development of its...
