London-based investment house Actis formalized its USD600 million investments in the Philippines for the development of the country’s largest single-site solar power project. Manila Electric Corp. (Meralco) and SP New Energy Corp (SPNEC) signed an agreement with Actis at Meralco’s headquarters in Pasig City Friday for the Terra Solar project, the large...

In observation of the celebration of 2024 Philippine Environment Month, the Mines and Geosciences Bureau (MGB) Central Office (CO) participated in a coastal cleanup for World Ocean's Day at BASECO Aplaya, Port Area, Manila on June 07, 2024. With the theme: "Awaken New Depths,” the simultaneous nationwide coastal cleanup saw the collaboration of 14,000 ...

The Philippines, the United States and Japan on Friday expressed intent to advance their trilateral cooperation on clean energy. The commitment was made during the historic trilateral summit of President Ferdinand R. Marcos Jr., US President Joe Biden and Japanese Prime Minister Fumio Kishida at the White House in Washington DC. In a joint statement...

Australia recently launched one of their largest indigenous-led renewable energy project.  Australia’s First Nations Yindjibarndi people have partnered with ACEN, a Philippine renewables company, to develop and operate renewable energy projects in Western Australia. In the Philippines, ACEN is one of the subsidiaries of the Ayala Corporation and is the...

The province of Cebu will partner with private firms to continue oil and natural gas exploration in Alegria town, south of Cebu, Governor Gwendolyn Garcia said Thursday. Garcia’s decision came as Department of Energy (DOE) Undersecretary Alessandro Sales visited the provincial capitol on Thursday to inform the governor of the agency’s intention to cont...

Prime Energy Resources Development B.V. said the exploration of new wells on Service Contract (SC) 38 remains on track. On Friday, Prime Energy announced that it awarded a USD69.9-million (PHP3.88-billion) contract to Noble for the use of its deepwater drillship “Noble Viking" for the Malampaya Phase 4 Project. The Noble Viking drillship will be inv...

Last year’s Geological Conference or GEOCON 2023 of the Geological Society of the Philippines (GSP) (Dec. 5-6, 2023) highlighted 57 oral reports and 86 poster presentations throughout 10 sessions. The theme of the conference is “Our Natural Resources: Fueling the Energy Transition Journey”. There was a rich discussion among the presenters and the audience...

Australian-based global financial services firm Macquarie Group Ltd. has expressed interest in investing in renewable energy, value-added mining, and digitalization efforts in the Philippines, Malacañang said Tuesday. The commitment was made during President Ferdinand R. Marcos Jr.’s meeting with Macquarie Group executives on the sidelines of his parti...

The Department of Energy (DOE) launched on Monday eight predetermined areas (PDAs) for exploration, development, and production of indigenous energy sources across the country. Four of these are in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), three of which are for petroleum and one for coal. DOE Undersecretary Alessandro Sales, duri...

The Manila Electric Company (Meralco) has expressed its support to the government’s 2032 nuclear power target by installing 1,200 megawatts capacity using small modular reactor technologies. Meralco executive vice president and chief operating officer Ronnie Aperocho said in an interview early this week that the company aims to usher this target of the...

Listed upstream oil and gas company PXP Energy Corp. remains interested in exploration activities for new sources of energy in the country. “PXP will assess and study other projects in the Philippines,” it disclosed to the Philippine Stocks Exchange on Thursday. It said the company and its subsidiary, Forum Energy Ltd., would continue to coordinate ...

Sustained construction on the next phase of the Pasig River Urban Development Project would interconnect the showcase area at the back of the Manila Central Post Office with the walled city of Intramuros. The 500-meter showcase area of the Pasig River rehabilitation project, dubbed the “Pasig Bigyan Buhay Muli” (PBBM), was completed on Jan. 17 with the...

Vietnam’s largest real estate firm Vingroup has expressed interest in investing in the production of electric vehicle (EV) batteries in the Philippines, Malacañang said Tuesday. The plan was discussed during President Ferdinand R. Marcos Jr.’s meeting with Vingroup executives on the first day of his state visit to Vietnam on Monday, Presidential Commun...

Danish firm Copenhagen Infrastructure Partners (CIP) is investing PHP108 billion to develop the 650 megawatt (MW) offshore wind power project in Northern Samar, the provincial government announced on Friday. The local government said that Board of Investments (BOI) Assistance Service Director Ernesto de los Reyes confirmed this in a meeting with Govern...

The Philippines and Indonesia on Wednesday signed a memorandum of understanding (MOU) to strengthen their cooperation in the field of energy. President Ferdinand R. Marcos Jr. and Indonesian President Joko Widodo witnessed the exchange of MOU on energy cooperation between the Department of Energy and Indonesia’s Ministry of Energy and Natural Resources...

House Speaker Ferdinand Martin G. Romualdez on Thursday said the signing of two agreements on nuclear cooperation constitute a significant stride towards providing Filipinos with cheaper, cleaner and sustainable electricity. Romualdez made this remark as he witnessed the signing of a groundbreaking cooperative agreement between Meralco and Ultra Safe N...