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PCC approves ACEPH, Axia JV for power plant

THE Philippine Competition Commission (PCC) has approved the joint venture (JV) between Ayala-led AC Energy Philippines, Inc. (ACEPH) and the Philippine energy unit of Japan-based Marubeni Corp. that is looking to build a diesel-fired plant in Rizal.

Mangroves seen more beneficial to seaside residents than fish farms

MANGROVES are more beneficial to fishing communities than fish farming, which employs few workers, a marine scientist said at an online forum organized by Oceana Philippines.

PELCO II awards 15-MW power supply contract

PAMPANGA II Electric Cooperative, Inc. (PELCO II) has awarded a 15-year power supply agreement to Vivant Energy Corp. and Gigawatt Power Inc. to supply 15 megawatts (MW) of the electric utility’s peaking requirements.

2021 budget passage targeted by next week

THE HOUSE of Representatives and the Senate on Tuesday assured the 2020 national budget will not be reenacted as both chambers target ratification of the P4.5-trillion spending plan for 2021 by next week.

PHL coal-fired power capacity seen increasing by 135% despite moratorium on...

POWER generating capacity from coal-fired plants is expected to rise 135% after all plants currently being built become operational, after a moratorium on new builds was declared last month, Clean Air Asia (CAA) said in a report.

Aboitiz Group’s contribution to government coronavirus response efforts reaches P2.2B

THE ABOITIZ GROUP’S contribution to the country’s coronavirus disease 2019 (COVID-19) response has reached over P2.2 billion, with the company being among the firms that first offered support to the government at the beginning of the pandemic.

Labor dep’t employment listings to highlight ‘green’ jobs

ENVIRONMENTAL PRESERVATION jobs have been included in the Department of Labor and Employment’s career information system targeted for launch online early next year, a Labor official said Saturday.

Ayala energy unit raises $300M from green bonds

AC Energy and Infrastructure Corp. has raised $300 million from its green bond issuance, its parent firm Ayala Corp. said in a regulatory filing...

Stocks finish lower as market continues to correct

Local shares tumbled on Friday and closed below the 6,800-mark, as the market continued to correct a week after the central bank announced a...

Pilipinas Shell launches Subic import facility

Pilipinas Shell Petroleum Corp. said Friday that it opened an import facility in Subic to expand its ability to supply fuel to northern Luzon. "The...

Philippines cited for ASEAN green-finance leadership

The Philippines was cited as a regional leader in sustainable finance thanks to the combined efforts of the government, banks, and businesses, according to...

Chevron Philippines names Billy Liu country chairman, general manager

CHEVRON Philippines, Inc. has appointed petroleum industry expert Billy Liu as the firm’s new country chairman and general manager to lead its downstream business, the company said on Thursday.

MRC Allied transforms into holding firm; structure stays

FORMER property development business MRC Allied, Inc. is now operating as a holding company, the firm said in a disclosure to the local bourse on Wednesday.

Buskowitz Energy sells signature solar home systems at 40% off

RENEWABLE energy developer Buskowitz Energy is offering its signature Solar Home Systems at a 40% discount per package, with rates starting at around P119,000, as part of its three-day Black Friday Sale, the firm said in a media release.

Regional green economy shift valued at $1 trillion every year by...

A SHIFT to the green economy by Southeast Asia is projected to be worth about $1 trillion a year by 2030, Bain & Co. said in a report.

Competition commissioner touts red tape reduction as big help to small...

MICRO, small and medium enterprises (MSMEs) will find it easier to do business if they receive efficient services from their regulators, the Philippine Competition Commission (PCC) said on Wednesday.

DoE urged to expedite clean energy transition

THE Department of Energy (DoE) must step up its clean energy efforts and implement policy that will bring about the “full and swift” transition of the power sector, an environmental think tank said Wednesday.

Pumping stations, dredging spared some towns from flooding — SMC

MALABON AND NAVOTAS cities did not experience heavy floods during the onslaught of typhoons Rolly and Ulysses because of the presence of the government’s water pumping stations, which were complemented by San Miguel Corp.’s (SMC) Tullahan-Tinajeros river dredging project, the firm said on Tuesday.

Solar Philippines appoints Marty Crotty as chief executive officer

SOLAR Philippines has named a new chief executive officer (CEO) to lead the company a month after signaling a new strategic direction in onboarding professional management, the solar energy provider said on Tuesday.

Early warning during calamities must be followed by community-level action —...

EARLY WARNING of a calamity needs to be matched by appropriate community action, a University of the Philippines (UP) expert said Tuesday.

Investing in renewable energy limits financial risks — AC Energy’s Francia

FINANCIERS of renewables are able to limit their financial risks, because they can invest in smaller amounts on those projects, the head of one of the fastest growing Philippine energy companies said on Monday.

GBP turns over P23M to Toledo City as plant host

POWER producer Global Business Power Corp. (GBP) has remitted P23.3 million of funds to its host community in Toledo, Cebu, to help in boosting the local government’s response to the global health emergency, the firm said in a press release on Monday.

MAP’s top manager Lopez calls for ‘regenerative’ shift

FEDERICO R. Lopez, the chairman of First Philippine Holdings Corp. (FPH), has called on companies to go beyond sustainability by converting into “regenerative forces” to ensure the safety of the planet.

Meralco, US firm offer solar storage systems

THE renewable energy arm of Manila Electric Co. (Meralco) has partnered with California-based supplier Enphase Energy, Inc. in distributing the latter’s micro inverter-based solar storage systems within the country, the US firm said on Monday.

Anglo to buy P12-million Shang Properties shares 

ANGLO Philippine Holdings Corp. on Monday has decided to buy P12-million shares in Shang Properties, Inc. that are owned by National Bookstore, Inc. (NBS), the firm said in a disclosure to the stock exchange.

Lawmaker seeks to double budget for power cooperatives

A SENATOR asked his fellow lawmakers on Monday to double the 2021 budget for the restoration of power facilities damaged by recent typhoons.

ERC third-quarter approvals pick up as lockdown eases

THE Energy Regulatory Commission (ERC) said Monday that it issued 113 certificates of compliance (CoCs) to power projects rated at 4,213 megawatts (MW) in the three months to September.

[B-SIDE Podcast] If it’s too good to be true, it probably...

https://open.spotify.com/episode/17vyqvinYiVaA9VI7GcpyN Follow us on Spotify BusinessWorld B-Side Fake COVID-19 cures and preventive measures are proliferating online, in chat groups and social media. Bananas, saltwater, and onions...

AC Energy readies sale of stake in Bataan and Mindanao power...

AYALA-LED AC Energy, Inc. plans to sell its investments in coal-fired power plant projects in Bataan and Lanao del Norte in line with its goal to generate more than half of its energy output from renewables by 2025.

Filipino scientist cites rising diseases due to warmer temperature

CONCRETE action is needed now to address the climate crisis so that nations across the world, particularly in southeast Asia, can prevent the emergence of diseases, a Filipino doctor said on Friday.

Regional Updates (11/22/20)

FOUR members of the Abu Sayyaf, a kidnap-for-ranson group that has pledged ties with the extremist Islamic State, surrendered on Saturday in Sulu after another one turned himself in to the military in Tawi-Tawi on Friday.

Akbayan denounces SC for ‘hands-off’ approach in Manila Bay’s artificial white...

THE Supreme Court took a "hands-off approach" when it denied Akbayan's motion to reprimand the Environment department for its controversial "white sand" project along...

SEC approves AC Energy’s name change

The Securities and Exchange Commission (SEC) has given the go-signal for AC Energy, Inc. to change its name to AC Energy and Infrastructure Corporation...

PSEi surges to 7,100 level after surprise BSP rate cut

STOCKS ended higher on Friday after the central bank cut benchmark rates to new record lows, drawing positive reactions from investors. The benchmark Philippine...

Resumption of West PHL Sea exploration to help economic revival

THE LIFTING of the suspension of exploration activities in the West Philippine Sea will help in the country's economic recovery, the Energy secretary said...

Ayala energy arm embarks on $2-B transformation

AYALA-LED AC Energy Philippines, Inc. will need up to $2 billion to exceed its 2025 target 5-gigawatt of installed energy capacity, which will also see the completion of its corporate transformation and restructuring, its top official said on Thursday.

‘Balik Scientist’ program attracts 28 returnees

THE Department of Science and Technology’s “Balik Scientist” program was supporting 28 returning researchers beneficiaries as of November, according to data made available to BusinessWorld.

Ayala energy arm sets tender offer, new notes offering

AC ENERGY, Inc. has called on investors on Wednesday to tap into the Ayala-led company’s senior green bonds under its recently upsized $2-billion medium-term note program.

San Miguel to build 200-MW solar farm to energize Bulacan airport

San Miguel Corp. (SMC) plans to construct a 200-megawatt (MW) solar farm in Bulacan to power its New Manila International Airport project, the firm said in a press release on Wednesday.

PSALM starts negotiated sale of P458-M property in Paco, Manila

STATE-LED Power Sector Assets and Liabilities Management Corp. (PSALM) will hold an online pre-negotiation conference on Thursday for the sale of its Paco, Manila property.

Illegal wildlife trade blamed for diseases brought by animals

THE ENVIRONMENT department would continue efforts to stem the illegal wildlife trade to prevent the spread of microbial infections from animals to humans, an official said on Wednesday.

Regional Updates (11/18/20)

Occidental Mindoro has acquired motorbikes customized with a first-aid kit that will be used by quick response teams of the provincial disaster management office.

Alsons ‘cautiously optimistic’ for 2020 as nine-month profit rises

Alsons Consolidated Resources, Inc. (ACR) recorded a drop in its third-quarter net income attributable to parent equity holder, but profit for the nine months through September was strong.

Regional Updates (11/17/20)

THE Palace on Tuesday said President Rodrigo R. Duterte has received the recommendation of the national disaster management council on declaring a state of calamity in the entire Luzon island and will announce a decision soon.

DoE evaluating renewables applications covering 1,479 megawatts

THE Department of Energy (DoE) said Tuesday that it has received 44 applications for renewables service and operating contracts linked to projects with the potential to generate 1,479 megawatts (MW).