GBPC upbeat on projects

Global Business Power Corp. (GBPC) is capitalizing on the rosy business sentiment and the robust line-up of infrastructure projects to expand its energy portfolio into renewable energy and into Luzon, its top official said. The Visayas power producer is looking to leverage on the upbeat business outlook and increased infrastructure demand by expanding its operations,…

Global Business Power Corp. looks to build coal-fired plant in Negros island

Global Business Power Corp. (GBPC) is looking at Negros island as the next site to build a coal-fired power plant after its unit Panay Energy Development Corp. (PEDC) officially launched on Wednesday its 150-megawatt (MW) expansion here. “In Negros, there are talks there that they wanted to put up a power plant. We’re very much…

JG acquires 30% of Global Business Power

Gokongwei-owned JG Summit Holdings has acquired a 30 percent stake in Global Business Power Corp. (GBPC) from major investors led by GT Capital Holdings Inc. JG Summit acquired 22 percent from GT Capital and eight percent from Meralco Power Gen. Ty-led GT Capital decided to dispose of its 22 percent stake in the power plant shortly…

Coal plants face challenges with Lopez

New coal power plant projects are facing uncertainties following the appointment of Regina Lopez as the new Environment secretary, an industry executive said Thursday.  President-elect Rodrigo Duterte named Lopez as the new head of the Environment Department, which is in charge of issuing environmental compliance certificates to new power projects.  The coal plants are also…

SEC oks Php15B SM Global bond

THE POWER generation arm of San Miguel Corp. (SMC) secured the approval of the Securities and Exchange Commission (SEC) to commence the sale of fixed-rate bonds.  The SEC cleared, in an en banc meeting on Tuesday, the application of SMC Global Power Holdings Corp. to raise P15 billion from a bond issuance, Armando A. Pan,…

$1.7-B power facilities in Visayas, Luzon readied

Global Business Power Corp. (GBPC) is investing $1.7 billion in power projects in Luzon and Visayas.  The biggest project (the 670-MW coal-fired power plant) is underpinned by a 600-MW contract from Meralco. The other major power projects via GBPC are the 40-MW biomass project (with sugar farm agricultural products as feedstock) in La Carlota City, Negros Occidental, and…

Coal power firms: RE will take time

Officials of Global Business Power Corp. (GBP) and Palm Concepcion Power Corp. (PCPC), both with coal-fired power projects in the region, said President Benigno S.C. Aquino III’s order to review energy policy is in line with their corporate goals for the long term. Petronilo R. Madrid, first vice president for GBP’s Panay Site Operations, said the…

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…