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Financial institutions key in directing funds towards green development: Masagos Zulkifli

SINGAPORE: Financial institutions play an important role in directing capital flows towards sustainable development, Environment and Water Resources Minister Masagos Zulkifli said on Tuesday (22 Jan). Speaking at a forum organised by Eco-Business and the United Nations Environment Programme, Mr Masagos added that the success of economies and businesses will depend on how well they […]

Three Singapore firms to invest $100m in Southeast Asian renewables projects

Projects in the Philippines, Indonesia, and Myanmar are already in the pipeline for financing. Singapore-based firms WEnergy Global, ICMG Partners, and Greenway Grid Global (GGG), an investment company with TEPCO Power Grid Inc (TEPCO-PG) as one of the major shareholders, have formed an investment entity of $60m. According to an announcement, this entity will finance […]

Another oil price hike set for January 22

MANILA, Philippines – Oil companies will implement another fuel price hike on Tuesday, January 22, marking the 3rd straight week of increases. Caltex, Shell, Flying V, Phoenix Petroleum, Total, Petro Gazz, Seaoil, and PTT Philippines announced that they will be imposing a P0.10 per liter increase on gasoline and a P0.40 per liter hike on […]

NEA allots P165 million for renewable energy

MANILA, Philippines — State-run National Electrification Administration (NEA) is allotting P165 million this year for renewable projects this year. The projects include the installation of 5,000 solar home systems in rural areas. Pushing for renewable energy projects will help in meeting NEA’s target of energizing 775 more sitios nationwide this year. “Electric cooperatives are rising […]

DOE receives 331 applications for projects of national significance

THE Department of Energy (DOE) has received 331 applications from industry stakeholders seeking the certification of their power projects as “energy projects of national significance [EPNS].” As of January 11, the DOE said in its website that 293 applications were accepted while 38, or 11 percent, were notified of their noncompliance as to form or documentary […]

Inalum target US$1.8 revenue from Freeport in 2022

State-owned mining holding company Indonesia Asahan Aluminium (Inalum) president director Budi Gunadi Sadikin has said the revenue that the state will receive from gold and copper miner PT Freeport Indonesia (PTFI) will increase to US$1.8 billion in 2022, from $180 million in 2018. In 2019 and 2020, there will be no revenue from the company because […]

Philippine bank establishes green finance framework

One of the Philippines’ largest banks, Rizal Commercial Banking Corporation (RCBC), on January 14 announced the establishment of its green finance framework to provide the basis for the issuances of green bonds and loans, which can be denominated in pesos or in any other currency. Proceeds from any green financing exercise under the framework will […]

AboitizPower remains keen on offshore biz

MANILA — AboitizPower remains keen on investment opportunities outside the Philippines, its Chief Operating Officer Emmanuel Rubio said Tuesday. Rubio told reporters that the company is still looking for investment opportunities in the power generation business in Southeast Asian countries such as Indonesia, Myanmar, and Vietnam. He said AboitizPower is currently doing feasibility studies and […]

It’s decision time for Southeast Asia as power demand soars

Southeast Asia’s energy demand is expected to grow by two-thirds by 2040, requiring massive investment in new energy generation and transmission. Installed capacity will double from 240 gigawatts to 565 gigawatts, which amounts to adding a bit more than Japan’s total electricity capacity. To meet their growing needs, countries have to make pivotal choices. They […]

Trek 2000 announces US$3 mil investment in local renewable energy solutions company

SINGAPORE (Jan 14): Trek 2000 International is acquiring a 7.5% stake in energy solutions company Terrenus Energy for US$3 million ($4.06 million). Singapore-incorporated Terrenus offers solar energy systems using solar panels, and has operations in Singapore, Australia and China. With its latest investment, Trek says it plans to collaborate with Terrenus on smart renewable power […]