MANILA, Philippines — The Marcos administration wants to secure a loan from the Asian Development Bank this year to bankroll its geothermal risk reduction strategy, a senior energy official said.

MANILA – The Department of Energy (DOE) on Tuesday reported that the country hit the highest installed capacity of renewable energy (RE) in 2024 at 794.34 megawatts (MW).

The Independent Electricity Market Operator of the Philippines (IEMOP) expects an increase in Renewable Energy Certificate (REC) issuance, driven by the ongoing Green Energy Auction Program (GEAP).

Manila Electric Co. (Meralco) customers can expect higher electricity bills this February as the power retailer announced a rate increase, driven primarily by higher generation charges.

MANILA ELECTRIC Co. (Meralco) is proposing a capital expenditure of approximately P215.36 billion for its regulatory period spanning 2026–2029.

STATE-RUN Maharlika Investment Corporation (MIC) and Charoen Pokphand Group Co., Ltd. (CP Group) are looking to establish a private equity fund to raise up to $1 billion (roughly P58 billion) in capital.

Saavedra-led Citicore Energy REIT Corporation (CREIT), the country’s first renewable energy (RE) real estate investment trust, has been assigned a strong Issuer Credit Rating of PRS Aa plus (corp.), with a Stable Outlook by Philippine Rating Services Corporation.

RENEWABLE ENERGY projects topped the list of projects classified by the Department of Energy (DoE) as energy projects of national significance (EPNS), granting them expedited permit processing privileges.

MANILA – The Department of Energy (DOE) has issued Certificates of Energy Projects of National Significance (CEPNS) to 149 power and transmission projects worth PHP2.4 trillion from May to December 2024.

POWER DISTRIBUTOR Manila Electric Co. (Meralco) expects a higher generation charge for February as the peso’s depreciation raises costs for dollar-denominated power contracts.