Energy & Mining
YGC unit taps Lopez Group for Batangas-Laguna exploration project
Maibarara Geothermal Inc. (MGI) has signed a deal with Lopez Group affiliate ThermaPrime Drilling Corp. to carry out exploratory drilling across Batangas and Laguna from 2026 to 2027. Led by the Yuchengco group, MGI said the work will check untapped areas for possible new geothermal power facilities. The project will involve up to four wells drilled to depths of up to 3,000 meters, with operations set to begin in October this year and finish by May 2027. MGI currently runs a 32-megawatt geothermal plant in Batangas.
DOE targets electricity theft to cut power bills as Meralco warns of massive losses
The Department of Energy is eyeing immediate measures to curb electricity pilferage as part of the government’s push to remove system loss charges from consumer bills, though major industry players warn the plan could carry a massive price tag.
Philex returns to profit as Padcal rebounds, metals stay strong
Philex Mining Corp. swung back to profitability in the second quarter as its flagship Padcal mine returned to full operating strength after a major rehabilitation, allowing the company to capitalize on still-elevated gold and copper prices.
Nine power gencos vie to supply Meralco 600 MW
At least nine power generation firms have signalled their interest in joining the competitive selection process to supply 600 megawatts of baseload power to the Manila Electric Company.
DOE sets December date for offshore wind auction; fuel supply levels updated
The Department of Energy announced Tuesday that the suspension of the fifth Green Energy Auction Program will end in September, with the actual bidding for up to 3,300 megawatts of offshore wind capacity targeted for December 1, 2026.
