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.
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.
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.
Manuel V. Pangilinan is ready to take his group’s business partnership with the Gokongwei family a step further, eyeing possible new projects in the power generation sector to meet the country’s growing demand.
Aboitiz Power Corp. is embarking on P85 billion worth of power-generation facilities that will add about 1,500 megawatts to the Luzon and Mindanao grids in four years’ time.
The power generation arm of the Sunwest Group of Companies, led by businessman Elizaldy S. Co, is planning to list at the local bourse in three years’ time in compliance with the Electric Power Industry Reform Act (Epira).
Conglomerate San Miguel Corp. targets to push forward this year plans to list its power-generation unit and to start mobilizing resources to put up coal-fired power plants in Luzon and Mindanao.
Conglomerate Ayala Corp. has boosted its power-generation portfolio with the acquisition of a 17.1-percent stake in GNPower Mariveles Coal Plant Ltd. Co. (GMPC) and its 600-megawatt coal-fired plant in Mariveles, Bataan, for $155 million.
Trans-Asia Oil and Energy Development Corp. will push through with its aggressive expansion program to increase its current power generation portfolio by another 500 megawatts.
Manila Electric Co., the country’s biggest power distributor, is planning to go into the power-generation business in Vietnam as part of its long-term plans to expand its operations abroad.
Lopez Holdings Corp. jacked up its net profit in the first three months by 192 percent year-on-year to P2.63 billion, boosted by the earnings of associate First Philippine Holdings Corp. which booked one-time gains from the sale of additional shares in Manila Electric Co. and also increased earnings from power generation.
