MANILA, Philippines — Billionaire Ramon Ang’s San Miguel Corp. (SMC) has raised its stake in tycoon Manuel V. Pangilinan-led Manila Electric Co. (Meralco), securing additional P93 million worth of shares.

SAN MIGUEL Global Power Holdings Corp. (SMGP) is acquiring additional shares in Manila Electric Co. (Meralco) from the Land Bank of the Philippines (LANDBANK) worth a total of P93.12 million.

THE Energy Regulatory Commission (ERC) plans to review the rules for power supply agreement (PSA) for generating companies to address a regulatory backlog and encourage more investment, a top official said over the weekend.

First Gen Corp. may reassess its strategies for achieving its target of delivering 13 gigawatts (GW) of renewable energy (RE) power by 2030 after taking in a partner in its gas business.

MANILA, Philippines — Pangilinan-led Manila Electric Co. (Meralco) and Aboitiz-backed GNPower Dinginin Ltd. Co. (GNPD) have secured regulatory approval for their 100-megawatt (MW) power supply deal.

MANILA, Philippines — The top executive of the Energy Regulatory Commission is pushing for a key amendment to the competitive selection process (CSP) guidelines to speed up the approval of power supply deals.

The Energy Regulatory Commission (ERC) is reviewing the proposed extension of the power deal between Manuel V. Pangilinan-led Manila Electric Co. (Meralco) and Lopez-led First Gas Power Corp. (FGPC) to ensure the contract terms remain fair and reasonable.

First Gen’s vice president and chief customer engagement officer Carlo Vega said the target still stands but the company would likely “revisit how 13 GW would be” following the partnership with Prime Infrastructure.

MANILA ELECTRIC CO. (Meralco) shares fell last week as investors took profits following gains from the recent Philippine Stock Exchange index (PSEi) rebalancing, with analysts citing technical factors as the main driver.

BEIJING, China — China saw a surge in new coal power in the first half of the year even as the country added record levels of clean energy capacity, according to a report published Monday.