PH Competition Commission approves land, energy joint ventures

MANILA, Philippines— The Philippine Competition Commission (PCC) approved two deals that will see a mixed-use development rise in Cavite and more hydropower projects in Ifugao province.

In a statement on Thursday, February 22, the PCC said it has given its nod to two joint venture transactions – one between Ayala Land Incorporated (ALI) and Royal Asia Land Incorporated, and another between Markham Resources Corporation and Alternergy Mini Hydro Holdings Corporation.

FPH exec sees virtual extinction of coal plants, dominance of RE

COAL power plants are likely to end up as underutilized or stranded assets in 10 years, or even less, given the rapid pace of renewables, a top official of Lopez-led First Philippine Holdings (FPH) said.

Federico R. Lopez, chairman and CEO of FPH, First Gen and Energy Development Corp. said during the second Philippine Environment Summit that as more renewables come onto the grid, the shape of demand changes.

This is because renewable-energy (RE) technology, albeit intermittent, can adapt to these challenges unlike coal-fired power plants.

Green financing eyed for renewable energy

Cebu City  , Philippines  — Government-run Development Bank of the Philippines (DBP) still sees continued opportunity in green financing with upcoming measures to support renewable energy (RE) development, an official said.

The state-run bank is looking into opportunities to fund green energy projects with the implementation of the Renewable Portfolio Standards (RPS), DBP first vice president Paul Lazaro said in an interview with reporters during the 2nd Philippine Environment Summit here.

Duterte seeks accountability on Malampaya fund mess

President Rodrigo Duterte has called for accountability over the corruption of funds sourced from earnings of the Malampaya natural gas project.

"Alam mo ang malas ng Pilipinas? Ewan ko, Diyos lang ang makasagot nito. Ang Indonesia, may oil. Brunei, may oil. Ang Malaysia, may oil. Tayo, wala. Kokonti lang gas natin [Malampaya] kinurakot," he said at the 6th Regional Community Defense Group Ground, Camp General Adriano Hernandez, Dingle, Iloilo on Thursday.

Petron to put up charging hubs for electric vehicles

PETRON Corp. has informed the government of its plan to put up electric-vehicle (EV) charging stations in select retail stations, Energy Secretary Alfonso G. Cusi said.

Cusi said he was informed that “Petron also” committed to put up EV charging stations.

“Shell has committed,” Cusi stated. “Petron is also interested.”

Petron President Ramon S. Ang confirmed the information on Thursday through a text message.


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