Toyota Tsusho seeks increased stake in Sarangani

TOYOTA Tsusho Corp. wants to increase its stake in Sarangani Energy Corp. (SEC), a unit of Alsons Consolidated Resources Inc. (ACR), the publicly listed company of the Alcantara group.  It currently holds a 25-percent stake in SEC, operator of the 210-megawatt (MW) coal plant in Maasim, Sarangani.  Read more here. Advertisements

Duterte to open up power industry to foreigners if power firms don’t shape up

Incoming President Rodrigo Duterte warned local power companies he would open the market to foreign firms to bring cheap and stable power supply to the country if the local utilities didn’t shape up and deliver better services to consumers.  Duterte said opening the country’s power sector to foreign investors would be more beneficial to consumers…

PLDT to unload Meralco shares

Philippine Long Distance Telephone Co. (PLDT) is in talks with Metro Pacific Investments Corp. (MPIC) as it looks to unload its shares in power utility giant Manila Electric Co. (Meralco) to reduce debts and support capital expenditures.  Meralco is owned directly by two major stockholder groups: Beacon Electric Asset Holdings Inc. and JG Summit Holdings…

ERC pushes for NGCP audit

The ERC has expressed confidence the NGCP will push through with its commitment to back the system audit of the country’s power grid system.  The audit aims to assess how NGCP is operating the grid, how it is maintaining the reliability of the country’s transmission system, and how its operations comply with regulations concerning the wholesale…

DOE, Petron hold Euro 4 Fuel Eco Run

The Department of Energy (DOE), in partnership with Petron Corp., conducted the Euro 4 Fuel Eco Run 2016 past 12 midnight Friday to promote fuel economy awareness among consumers. Read more here.

Oil prices drop on US$50/barrel jitters

Oil prices decreased in Asia Friday, pulling back further from the psychological $50 level as traders took profit and expectations of tighter global supply receded.  US benchmark West Texas Intermediate for July delivery was down 32 cents at $49.16 a barrel while Brent North Sea crude, the European standard, was 33 cents lower at $49.26. Read…

Meralco rates may go up due to renewables

Meralco retail rates may increase if the DOE continues to approve contracts for the development of solar and wind power projects which avail of the Feed-In Tariff.  Watch here.

MPIC acquires 56% stake in Global Power

Metro Pacific Investments Corp. (MPIC) will acquire a 56 percent stake in tycoon George Ty’s power generation arm Global Business Power Corp. for P22.06 billion as part of the strategic alliance formed by the Pangilinan-led group and the Ty family. Global Power is the leading power supplier in Visayas with an aggregate 852 megawatts of…

Alsons to start building 3 plants in Mindanao this year

Alsons Consolidated Resources Inc. (ACR), a publicly-listed power holding company of the Alcantara Group, is aiming to start the construction this year of three major power plants in Mindanao; i.e., the second 105-megawatt (MW) section of the 210-MW Sarangani Energy Corp. (SEC) coal-fired power plant in Maasim, Sarangani; the 15-MW Siguil River run-of-river hydroelectric plant…

RE sector employed 8.1MM people last year

The global renewable energy sector employed more than 8.1 million people last year, a 5 percent increase, the Abu Dhabi-based renewable energy agency IRENA said in its annual report.  This rise was attributed to falling technology costs and more accommodating energy policies.  Read more here.

Meralco ready for La Niña

Meralco declared it is fully prepared for the La Niña weather phenomenon expected later this year as it has boosted investments in its distribution facilities, the company said on Thursday.  This comes after the ERC last week approved the company’s P15.47-billion capital expenditure (capex) program for 2016. Read more here.

San Miguel opts for clean coal

San Miguel Corp. (SMC) is shunning coal-fired power plants and will instead continue to invest in “clean coal” technology, its top official said yesterday.  The so-called clean coal uses the circulating fluidized bed (CFB) technology that has the ability to achieve lower emission of pollutants.  Read more here.