Philippines

An industry player laments on Philippine government’s failure to deliver initiative.

It’s not really about subsidy, but financial assistance to the marginalized sector, says Philippine Energy Secretary Jose Almendras. 

Philippine power producer First Gen Corp is exploring all possible financing optionsto fund two hydro power projects worth about 8 billion pesos or $185 million. This include selling debt and equity.

San Miguel Corp will not pursue a $1 billion conversion of a 620-megawatt power plant it acquired in 2009 and is now looking to sell it.

AES Corp will soon  double the capacity of its of 600MW Masinloc coal-fired facility in Zambales, Philippines.

Oriental Peninsula Resources Group Inc. is set to add a power generation plant with a maximum capacity of 60 megawatts to  be fueled by local coal.

Therma South has received an environmental compliance certificate for the 300 MW coal-fired project in Davao, Philippines.

The registration of Jinzishan Wind Power Project in Ziyuan, Guangxi, has been approved by UN CDM EB.

The Philippine government seeks to energize around 370,900 new household connections every year until 2017.

The deal involves the construction of wind energy projects with a total capacity of at least 1,000 MW over a 10-year period.

Semirara Mining will receive a PHP14bn ($329.27m) loan to finance the construction of two generating units next to its coal plant in Batangas in the Philippines. The project involves the construction of two coal-fired units of 150MW each, next to the 600MW coal-fired power plant. The project will be implemented by Semirara Mining's new subsidiary Southwest Luzon Power Generation. The syndicated term debt facility was arranged by BDO Capital and Investment, reports abs-cbnnews.com.

AC Energy Holdings has formed a joint venture with Trans-Asia Oil and Energy Development to build and operate a 135MW thermal power plant in Batangas, the Philippines.

Korea Power Electric Corp. has completed a new power plant in Cebu, the Philippines.

ADB is urging Asia-Pacific countries to invest in clean energy and energy efficiency to secure recent economic gains.

The Philippines is set to launch the first National Renewable Energy Program, which mandates the development and use of the country’s renewable energy resources.

The Philippine government will continue with the privatization of the remaining National Power Corp. with the scheduled sale of the Cebu-based Naga power complex next month.