The Department of Energy (DOE) announced that it is partnering with the Japan International Cooperation Agency (JICA) to launch a three-year project to identify hydropower potential sites and boost the Philippines’ renewable energy (RE) strategies.

The National Association of Electricity Consumers for Reforms (Nasecore) is asking the Department of Energy (DOE) to revise the competitive selection process (CSP) because it “clearly failed to uphold its core objectives of transparency, fair competition, and least-cost power supply procurement.”

MANILA, Philippines — The Asian Development Bank (ADB) expects the government’s geothermal de-risking facility to unlock fresh investments that could boost the Philippines’ standing on the global stage.

CITICORE Renewable Energy Corp. (CREC) has allocated a capital expenditure (capex) budget of more than $1 billion (around P56 billion) for this year, with the majority of the funds earmarked for its first gigawatt (GW) of solar power projects, its president said.

CITICORE ENERGY REIT Corp. (CREIT), the country’s first renewable energy real estate investment trust (REIT), is looking to pursue a fundraising initiative next year to finance new property acquisitions, its president said.

MANILA, Philippines — The Asian Development Bank (ADB) expects the government’s geothermal de-risking facility to unlock fresh investments that could boost the Philippines’ standing on the global stage.

THE Energy Regulatory Commission (ERC) has asked 22 generation companies (GenCos) to explain the “continued or frequent derating of their power facilities and units.”

LISTED Basic Energy Corp. is set to begin processing the necessary permits for its proposed solar power project in Bolinao, Pangasinan, after securing a certificate from the government.

GEOTHERMAL POWER PRODUCER Energy Development Corp. (EDC) plans to invest up to P30 billion to drill 40 new wells through 2026, its president said.

The Independent Electricity Market Operator of the Philippines, Inc. (IEMOP), operator of the Wholesale Electricity Spot Market (WESM), is asking provisional approval from the Energy Regulatory Commission to recover from consumers additional market fees of P1 billion for the IEMOP Electricity Market Management System (IEMMS).