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Friday, March 29, 2024

Energy

SM Group acquires 28% stake in CREIT for P5 billion

Conglomerate SM Investments Corp. (SMIC) said Wednesday it acquired a 28.79-percent stake in Citicore Energy REIT Corp. (CREIT), the country’s first renewable energy real estate investment trust firm, for P5 billion. SMIC said in a disclosure to the stock exchange it purchased 1.884 billion shares in CREIT from Citicore Renewable Energy Corp. (CREC) and Citicore Solar Tarlac 1 at P2.6534 apiece. After the transaction, CREC will remain the largest stakeholder in...

Luzon power spot prices rise on increased demand, plant shutdowns

Prices at the Wholesale Electricity Spot Market (WESM) in the Luzon grid...

Meralco vows to meet summer power demand

Power retailer Manila Electric Company (Meralco) said Tuesday it is prepared to...

Cebu businessmen warn vs. power shortage

Business leaders in Cebu, the bustling heart of the Visayas, expressed concern...

LATEST Energy

LATEST

PetroEnergy’s solar unit secures P834-m loan for Bohol plant

PetroGreen Energy Corp. (PGEC) of the Yuchengo Group said Tuesday it secured an P834-million loan facility from Rizal Commercial Banking Corp. (RCBC) for its...

Seaoil opens P822-m oil depot in Zamboanga as part of nationwide expansion

Seaoil Philippines said it opened its P822-million Zamboanga Bulk Terminal at the ZAMBOECOZONE Authority and Freeport in Barangay Talisayan, Zamboanga City, its 13th depot...

Meralco sees Q1 power sales increasing by 9% amid hot weather

Power retailer Manila Electric Co. is looking at a 9-percent sales volume growth in the first quarter of 2024 from a year ago, driven...

DOE: Earth Hour savings rise 110% to 132 MW this year

The Department of Energy said Monday the Earth Hour 2024 generated a significant increase in electricity savings of 132.11 megawatts (MW) for the Philippines...

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