MANILA, Philippines — The Energy Regulatory Commission (ERC) has ordered Manila Electric Co. (Meralco) to use unclaimed tax refund to reduce power rates. ERC has directed Meralco to submit a proposed scheme that incorporates the unclaimed tax refund for purposes of reducing the distribution rates of its customers, among others. It also directed the country’s […]

Southeast Asia is a growing region with countries here averaging growth rates of 5.1 percent. This situation has rightly prompted a rise in energy demand within the region. Between 2000 and 2016, economic growth in the region spurred a 70 percent increase in primary energy demand. To that end, governments in Southeast Asia have implemented […]

MANILA, Philippines — State-run Development Bank of the Philippines (DBP) has extended loans amounting to P624 million to an electric cooperative from Camarines Sur to help improve its services to 82,000 households in the province. In a statement, DBP President and chief executive officer Cecilia Borromeo said the bank has signed a P624-million loan agreement […]

Indonesia’s stock exchange plans to cut the minimum trading price for shares and shrink the lot size in its drive to attract more retail investors and boost volumes. The bourse will revise the decade-old requirement for stocks to maintain a floor price of 50 rupiah and lower the minimum order size from 100, Laksono Widodo, […]

During his recent field trip to the south-central provinces of Binh Thuan and Khanh Hoa to explore the potential for renewable energy development, Bruno Angelet, Ambassador and head of the European Union Delegation to Vietnam, told VIR that Vietnam boasts great potential to develop wind and solar power projects. “The EU is greatly interested in […]

The government has set Indonesia’s coal price reference (HBA) for February at US$91.8 per ton, 0.6 percent lower than the reference in January of $92.41 per ton, in response to China and India’s ongoing protection policies. “Both countries will intensify the use of domestic coal,” Energy and Mineral Resources Ministry’s spokesperson Agung Pribadi said in […]

Securing funding for environmentally friendly projects has not been a straightforward process for Indonesian companies and organizations, many of which are unaware that certain standards need to be fulfilled before applying for funding for green energy projects at international and multilateral organizations. The standards are considered basic: Write a clear proposal and comply with the […]

AC Energy, Inc. has attracted two of the world’s biggest development lenders International Finance Corp. (IFC) and the Asian Development Bank (ADB) to the Ayala-led company’s multi-million dollar green bond offering that will fund regional renewable energy projects, company officials said. “In total now, we have $410 million from the green bond offer,” Eric T. […]

MANILA, Philippines — Indonesia’s second biggest crude oil producer, PT Pertamina, is looking to invest $1 billion for the development of liquefied natural gas (LNG) in the Philippines through a regasification hub project, the Department of Trade and Industry (DTI) said yesterday. Trade Secretary Ramon Lopez said PT Pertamina has expressed interest to do business […]

A new $60 million Singapore-based investment entity has been formed to pursue renewable energy projects in Southeast Asia, with projects in the Philippines, Indonesia and Myanmar first in line. To be based in Singapore, a trio of firms has announced the formation of CleanGrid Partners – a $60 million investment entity which will finance and […]