MANILA, Philippines — Maharlika Investment Corp. (MIC) may invest as much as P8.5 billion to secure at least a 10-percent stake in the entity that controls the National Grid Corp. of the Philippines (NGCP), according to an analyst.

A disagreement over how much the government should pay to electrify remote areas in the country has caused the Energy Regulatory Commission (ERC) to delay funding requests from the National Power Corporation (NPC).

MANILA, Philippines — Persistent financing challenges remain a major hurdle in the country’s pursuit of more ambitious energy transition goals, especially in renewable energy, according to the Department of Energy.

MANILA – Senate Deputy Minority Leader Risa Hontiveros said Wednesday the Manila Electric Co. (Meralco) must be made to refund an estimated PHP100 billion in alleged overcollections from consumers over the years before its legislative franchise is renewed by Congress.

Basic Energy Corp. (BSC) said on Wednesday it has completed the Wind Resource Assessment (WRA) for the Mabini Wind Power Project in Batangas.

A 62-megawatt peak (MWp) solar power project of Solaris Inc., an affiliate of Palm Concepcion Power Corp. (PCPC), is targeted for completion by end of the year.

PANGILINAN-LED Manila Electric Co. (Meralco) said it will borrow P75 billion from three major local lenders to finance its planned joint venture (JV) with Aboitiz Power Corp. (AboitizPower).

MPower, the retail electricity arm of Manila Electric Company (Meralco), will provide 100 percent renewable energy (RE) to SM Retail, Inc.’s largest establishments in Pasay City, including its headquarters.

THE SENATE approved on third and final reading on Monday a bill extending the corporate life of the Power Sector Assets and Liabilities Management Corp. (PSALM) for five years, ahead of its original expiration date of June 2026.

Citicore Renewable Energy Corporation (CREC) announced it will launch nine solar projects in Batangas, Pampanga, Pangasinan, and Quezon Province this year, aiming to achieve one gigawatt (GW) of capacity annually.