While it is manifestly the major game in town for both local and foreign investors, Aboitiz Power Corporation is still seeing treacherous terrain when it comes to capital influx in the renewable energy (RE) sector. In his presentation at the Smart Forum 2024 convened by the European Chamber of...
On account of higher finance charges that it incurred due to direct equity acquisitions, the net income of Yuchengco-led of PetroEnergy Resources Corporation (PERC) had declined 11% to P527 million in the first half of the year from heftier P591 million in the same period last year. The company...
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...
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...
Filipino-led renewable energy (RE) firm NexGen Energy Corp. (XG) had secured regulatory approvals for its initial public offering (IPO), which will wind up at its July 16 listing at the local bourse. The company announced that it cornered both the go-signal of the Securities and Exchange Commission...
Leading player Aboitiz Power Corporation is scheduling the issuance of notice-to-proceed (NTP) for the construction of the next round of 1,000 megawatts (MW) of greenfield solar farm ventures that it is targeting to bring to commercial operations in the next two years. In a briefing with the media,...
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...
Lopez-led First Gen Corporation will be turning the stretch of its hydropower complex in Pantabangan, Nueva Ecija as a ‘mecca of green energy’, with new sites around the area already tagged for its planned solar and wind farm installations that will be amalgamated with battery energy storage...
Greenfield as well as expansion generating facilities of Aboitiz Power Corporation will be shoring up power supply in the country this year by additional 400 megawatts – mainly coming from its solar plants that will be reaching commercial stream in the months ahead. In a briefing with reporters,...
The Department of Energy (DOE) is counting on the capacity contribution of greenfield solar plants that are coming on commercial stream during the summer months, primarily to plug capacity gap arising from the de-rated generation of the hydro plants due to the incursion of El Niño spell. In a...
Ayala-led ACEN Corporation has firmed up a deal with the Asian Development Bank (ADB) and Bank of the Philippine Islands (BPI) to raise P11 billion worth of sustainability-linked term loan facility that will partly bankroll the company’s solar projects. The loan, according to ACEN, will carry...
DUBAI, UAE – Players in the renewable energy sector of the Philippines are strategically seeking the help of the Danish government in helping address ‘tightness’ in the workforce for technical as well as managerial skills currently being experienced in the flourishing solar industry. In an...
