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.

The Department of Energy said it is open to regional cooperation with ASEAN countries to further advance the country’s nuclear energy agenda.

RENEWABLE ENERGY developer Citicore Renewable Energy Corp. (CREC) is expecting a higher capital expenditure (capex) budget for this year as it works towards its five-gigawatt (GW) project roadmap, its president said.

LISTED renewable energy firm Alternergy Holdings Corp. has tapped two financial advisors for its next capital-raising initiative, aiming to support the rollout of its 500-megawatt (MW) capacity target.