Chawalit Tippawanich, president and chief executive for PTT’s power arm, GPSC, said that its board on Monday agreed that either the company or a yet-to-be-established subsidiary, would purchase the energy recovery unit in a deal worth no more than Bt24.11 or about $757 million. The unit is part of TOP’s capacity expansion project, Clean Fuel […]

HCM CITY — The Asia Sustainable Finance Initiative was launched in Singapore on Monday to help shift Asia’s financial flows towards sustainable economic, social and environmental outcomes. With WWF as its secretariat, the multi-stakeholder platform will bring together the finance industry, academia, and science-based organisations, to support Singapore-based financial institutions in deepening their sustainable finance […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]