News

Security Bank has partnered with climate fintech firm Helios to enhance access to clean energy for Filipino homeowners. The two firms signed a memorandum of agreement last month to alleviate financial pressure on households facing increased power costs.

The Philippine province of Cebu has agreed to provide its plastic wastes for APO Cement Plant as this will be a promising economic enterprise to the local government.

Local governments in the Philippines are promoting green energy and sustainable development. The Iloilo City government has tapped solar power to meet at least one-third of its around 200 KW daily demand.

The Rockefeller Foundation collaborates with ACEN, a major Philippine energy player, using carbon financing for the early decommissioning and transition of a coal-fired power plant in the Philippines to renewable energy.

Water and sanitation company Manila Water has inked a 15-year solar power purchase agreement (PPA) with energy provider Ditrolic Energy Philippines.

Philippine Economic Zone Authority said on Nov. 3 that it has secured P20.6 billion (US$365 million) worth of investment leads and pledges from Taiwanese investors for developing green energy and sustainable enterprises.

Hydrogen is expected to play a crucial role in driving the green energy transition in the Philippines, although it will take some time before it becomes cost-effective, as analysts have noted.

Philippines' Energy Development Corporation (EDC), a renewable energy subsidiary of conglomerate Lopez Group, adds 3 geothermal sites to deploy battery energy storage system (BESS).

ACEN announced that its subsidiary had agreed with Indonesian company to explore potential renewable energy projects in Indonesia.

The Philippines will seek bids from renewable energy developers to install about 8 GW of geothermal and hydropower supply, in a new round of auctions for green power projects.