The nine-month income of ACEN Corporation, the energy investment arm of the Ayala group with domestic and offshore market-operations, declined slightly to P5.35 billion this year from a heftier P6.37 billion in the same period in 2021. Data submitted to the Philippine Stock Exchange (PSE) showed...
Solar Philippines Nueva Ecija Corporation’s change in its corporate name to SP New Energy Corporation (SPNEC) has started to be reflected on the systems of the Philippine Stock Exchange (PSE) on November 8, 2022. In a statement, the firm said this change reflects the company’s expansion from a...
Because a wave of droughts has scorched half of China’s territory, House Ways and Means Chair Albay 2nd district Rep. Joey Sarte Salceda thinks it’s high time for the national government to increase the baseload power generation of solar and wind energy sources. Bangui Wind Farm (Wikipedia) The...
MGen Renewable Energy, Inc. (MGreen), the RE investment arm of Manila Electric Company (Meralco), and Singapore-headquartered Vena Energy have formed a joint venture for the construction of their 68-megawatt ac (MWac) solar power project in Currimao, Ilocos Norte. The project is expected to be...
Leviste-led Solar Philippines Nueva Ecija Corporation (SPNEC) will be securing additional 2,500 hectares of land in Bulacan and Nueva Ecija provinces for its expanding solar energy projects. . The company noted that the funding for the property purchases will be sourced from the proceeds of...
Solana Solar Alpha Inc. (Solana Solar), a subsidiary of renewable energy firm Alternergy, has inked a 20-year power supply agreement (PSA) with Peninsula Electric Cooperative Inc. (PENELCO) for the off-take of the generated electricity from the former's 10-megawatt solar power project to be sited...
Owing to higher electricity sales and the uptick in oil prices, Yuchengco-led PetroEnergy Resources Corporation (PERC) has posted 31-percent income jump to P506 million in the first half this 2022 from leaner P386 million in the same period last year. “The robust financial performance was largely...
Solar Philippines Nueva Ecija Corporation (SPNEC) aims to complete its acquisition of the assets of parent company Solar Philippines worth about P60 billion by the end of this year. In a disclosure to the Philippine Stock Exchange, the firm said that the conclusion of its P3.3 billion Stock Rights...
The Department of Energy (DOE) is studying prospects of opening up the renewable energy (RE) sector to 100 percent foreign ownership, primarily in the domain of solar and wind farm installations, for the manufacturing sector. Energy Secretary Raphael P.M. Lotilla raised this possibility as he...
To integrate expanded renewable energy (RE) ventures into its corporate structure, Leviste-led Solar Philippines Nueva Ecija Corporation (SPNEC) is seeking green light from its board of directors, to have the company renamed to SP New Energy Corporation. The new corporate name is still subject to...
The Philippine Stock Exchange (PSE) has approved the stock rights offering of Solar Philippines Nueva Ecija Corporation, the renewable power company founded by Leandro Leviste, worth up to P3.34 billion. The PSE also approved the proposed SRO timetable, with an Ex-Date of August 22, 2022, Record...
Spectrum, a subsidiary of Manila Electric Company (Meralco), has completed the energization of solar facilities that will power up at least five business centers of Philippine Long Distance Telephone Co. (PLDT) that will save the telecommunications giant P2.2 million in annual electricity cost in...
