RENEWABLE ENERGY developer Citicore Renewable Energy Corp. (CREC) is earmarking a capital expenditure (capex) budget of around $2 billion (P118.86 billion) this year to finance the rollout of more than a gigawatt (GW) of solar power projects.

OVER A MILLION households in the Philippines remain without electricity, a gap the government aims to close within the next three years.

MANILA, Philippines — Straight from the horse’s mouth.

SUBSIDIARIES of ACEN Corp., First Gen Corp., San Miguel Global Holdings Corp. (SMGP), and Aboitiz Power Corp. (AboitizPower) are looking to bid for Manila Electric Co.’s (Meralco) 200-megawatt (MW) renewable energy (RE) supply requirements.

The Department of Energy expects to decide within the first quarter on an application by Semirara Mining and Power Corp. (SMPC) to extend its coal operating contract for another 13 years or until 2040.

THE Manila Electric Company (Meralco), with the assistance of the National Police (PNP), dismantled illegal meter selling operations in Sta. Cruz, Manila, on Tuesday.

LISTED Basic Energy Corp. is allocating around P1.9 billion for the development of a 43.41-megawatt alternating current (MWac) solar power project in Cadiz City, Negros Occidental.

SP NEW ENERGY CORP. (SPNEC) said it is asking the Department of Energy (DoE) to reconsider the termination of its service contract for a solar power project in Sta. Rosa, Nueva Ecija, which experienced delays due to unforeseen circumstances.

Host communities are set to receive a three-fold increase in financial incentives from power projects as the Department of Energy (DOE) begins implementing the strengthened subsidy framework this month.

The Philippines faces a tightening power supply as rising temperatures signal the start of the dry season, prompting energy officials to shore up reserves and fast-track stalled capacity to meet the projected surge in consumption.