Meralco clarifies position in Nigeria project
By Riza T. OlchondraThe country’s largest power distribution utility is working out the part it will play in a power distribution partnership deal in Nigeria.
The country’s largest power distribution utility is working out the part it will play in a power distribution partnership deal in Nigeria.
Trans-Asia Oil and Energy Development Corp. has secured a “declaration of commerciality” certificate from the Department of Energy for its planned 54-megawatt wind farm in San Lorenzo, Guimaras.
AC Energy Holdings Inc. has already committed $325 million (or roughly P13.3 billion) in equity investments for four power projects, out of its planned $700-million capital outlay for the energy sector over the next five years.
Publicly listed Basic Energy Corp. has bagged three geothermal service contracts from the Department of Energy to explore and develop three geothermal concession areas in Luzon.
A South Korean power company is eyeing to build a $22-million (P895.84 million) biomass power plant in Iloilo that is expected to boost the supply of energy on Panay Island.
The Gotianun-led conglomerate Filivest Development Corp. has debuted in the offshore bond market with a warmly received $300-million bond deal that marked a new low in terms of borrowing cost for a Philippine corporate issuer for this tenor.
Aboitiz Power Corp. said Friday three of its affiliates have agreed to supply the National Grid Corp. of the Philippines with ancillary services — standby power supply that can be tapped in case the regular supply falls short of the requirement—to help ensure the “integrity” of the main power grid.
The Lopez-led First Gen Corp. increased its net income to $186.1 million last year from the $35 million the previous year on the back of the strong performance of its power business.
Aboitiz Power Corp. posted a 13-percent hike in its consolidated net income last year to P24.4 billion from P21.6 billion in 2011, due largely to an increase in electricity sales, the company announced Wednesday.
Criticism continues to mount over the government’s apparent inability to set a definite course on the development of the Clark International Airport, seen as the key to solving the infrastructure bottleneck choking the country’s aviation sector.
Manila Electric Co., the country’s biggest power distributor, seeks to increase the volume of electricity it sources from state-run Power Sector Assets and Liabilities Management Corp. by another 100 megawatts to secure the power supply within its franchise area.
State-run Power Sector Assets and Liabilities Management Corp. is seeking offers for the supply and delivery of P15 billion worth of industrial fuel oil to serve the requirements of four critical power facilities this year.
