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...
A delivery timeframe of at least 3-5 years is being sought on the plan of the Department of Energy (DOE) for capacity tender of integrated renewable energy and energy storage system (IRESS) in the forthcoming green energy auction (GEA) round. In an interview with reporters, ACEN Corporation...
The Department of Energy (DOE) is scheduling fresh round of green energy auction (GEA) by the fourth quarter this year to cover the unsubscribed capacity in the last competitive bidding - and the distinctive feature of the forthcoming tender will be on packaging it as integrated renewable energy...
The Department of Energy (DOE) is anticipating capacity injection of additional 1,300 megawatts of coal capacities in the next few years before renewable energy (RE) could overtake that traditionally-dominant fossil fuel technology in the energy mix by 2028. Energy Undersecretary Rowena Cristina...
Power utility giant Manila Electric Company (Meralco) has secured three contracts for a total of 500-megawatt capacity that will satiate its requirements for renewable energy (RE) supply portfolio as prescribed under the government-enforced Renewable Portfolio Standards. The tariffs cornered by the...
Listed firm Citicore Renewable Energy Corporation (CREC) is stepping up in a big way on adding renewable energy (RE) capacity to the country’s power supply, with 1.3 gigawatts (1,300 megawatts) ramp up on its solar operating facilities by yearend until early part of 2025. In a briefing with the...
President Marcos expressed confidence that the newly inaugurated Mariveles-Hermosa-San Jose (MHSJ) 500 KiloVolt (kV) transmission lines in Bataan would help the Philippines in its transition to renewable energy, thus achieving a more sustainable country. President Ferdinand 'Bongbong' Marcos Jr....
Tycoon Manuel V. Pangilinan is stepping down as President and CEO of SP New Energy Corporation in favor of Emmanuel V. Rubio, who the MVP Group has recently hired to lead Meralco PowerGen Corporation (MGen) after his retirement as the chief executive of Aboitiz Power Corporation. In a...
ACEN Corporation of the Ayala group and multilateral lending firm Asian Development Bank (ADB) have solidified their partnership in the “green power revolution” sphere, as the latter has switched on its renewable energy (RE) supply sourcing to the Ayala firm. The bank will procure 100 percent...
West Zone concessionaire Maynilad Water Services, Inc. has increased its use of renewable energy in its operations by 15 percent following its partnership with MPower, the local retail electricity supplier of Manila Electric Co. (Meralco). Under this partnership, Maynilad said in a statement on...
CREC eyes Green Bond offering in 2025 By James A. Loyola After raising P5.3 billion from its initial public offering (IPO), Citicore Renewable Energy Corporation (CREC) is considering the issuance of Green Bonds to help fund its aggressive $3-billion five-year expansion program. During the press...
The UK government’s MOBILIST Programme has invested P731 million in Citicore Renewable Energy Corporation (CREC) which is equivalent to 13.77 percent of its P5.3-billion initial public offering (IPO). CREC has successfully completed its IPO and listing on the Philippine Stock Exchange (PSE) on...
