National Grid Corp. of the Philippines (NGCP) is set to complete two major transmission projects totaling P12.34 billion by next year to strengthen the country’s power infrastructure.

SINGAPORE-BASED Vena Energy on Wednesday said the financing secured for its 300-megawatt (MW) solar project in Ilocos Norte amounts to $210 million (about P7 billion), following its earlier announcement that the project had reached financial close.

MANILA, Philippines — A group of independent power producers has welcomed the 19-percent hike in the Wholesale Electricity Spot Market (WESM)’s secondary price cap (SPC), noting that the move could send a clearer signal to investors.

MANILA – The effective transmission rate for December slipped to PHP1.35 per kilowatt hour (kWh) from last month’s PHP1.51/kWh, driven by changes in consumption, officials of the National Grid Corp. of the Philippines (NGCP) said Wednesday.

Spanish energy firm Acciona Energia is set to complete the construction of its 180-megawatt peak (MWp) solar power project in Cebu a year from now.

MANILA, Philippines — Electricity supply in Visayas could become critically strained next year, triggered by the planned and unexpected shutdown of several power plants, a senior energy official warned.

The Energy Regulatory Commission (ERC) has directed all private distribution utilities (PDUs) to file their respective actual weighted average tariff (AWAT) applications to cover the lapsed period when the agency could not conduct a rate reset.

The Philippine Rural Electric Cooperatives Association Inc. (PHILRECA) is calling on the national government to allocate sufficient and equitable funding for its member-cooperatives’ electrification initiatives to achieve the goal of 100-percent rural electrification by 2028.

A $170-MILLION geothermal de-risking facility is set to launch next year following an agreement signed by the Department of Energy (DoE) and Land Bank of the Philippines (LANDBANK).

THE Energy Regulatory Commission (ERC) is on track to complete next year its evaluation for the rate reset of the National Grid Corp. of the Philippines (NGCP) for the fifth regulatory period (5RP), spanning the years 2023-2027.