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Friday, March 29, 2024

Energy

SM Group acquires 28% stake in CREIT for P5 billion

Conglomerate SM Investments Corp. (SMIC) said Wednesday it acquired a 28.79-percent stake in Citicore Energy REIT Corp. (CREIT), the country’s first renewable energy real estate investment trust firm, for P5 billion. SMIC said in a disclosure to the stock exchange it purchased 1.884 billion shares in CREIT from Citicore Renewable Energy Corp. (CREC) and Citicore Solar Tarlac 1 at P2.6534 apiece. After the transaction, CREC will remain the largest stakeholder in...

Luzon power spot prices rise on increased demand, plant shutdowns

Prices at the Wholesale Electricity Spot Market (WESM) in the Luzon grid...

Meralco vows to meet summer power demand

Power retailer Manila Electric Company (Meralco) said Tuesday it is prepared to...

Cebu businessmen warn vs. power shortage

Business leaders in Cebu, the bustling heart of the Visayas, expressed concern...

LATEST Energy

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SMC rescues debt-saddled Albay Electric Cooperative

San Miguel Global Power Holdings Corp., the power generation arm of San Miguel Corp., said Thursday it had come to the rescue of debt-saddled...

700-MW ACEN projects to start operations in 2023

ACEN Corp., the energy arm of Ayala Corp., expects to start the operations of around 700 megawatts of solar and wind projects within the...

ERC orders distribution utilities to create restricted fund for customers

The Energy Regulatory Commission said Wednesday it ordered the creation of a restricted fund by the distribution utilities where over-collections are maintained and earmarked...

Meralco grants financial support to aspiring women electrical engineers

The Manila Electric Co. has awarded 18 female college students from different universities with scholarship grants that will help them pursue their dreams of...

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