Energy

Tokyo Gas Co., Ltd (Tokyo Gas), Japan’s largest natural gas utility company, has completed its acquisition of a 20 percent equity ownership in FGEN LNG Corporation (FGEN LNG), a subsidiary of First Gen Corporation (First Gen). FGEN LNG is the owner and operator of a liquefied natural gas (LNG) terminal project at the First Gen Clean Energy Complex in Batangas City (LNG Terminal).

Aboitiz Power Corp. subsidiary SN Aboitiz Power Group (SNAP) has secured financing from major banks for the expansion of its battery energy storage system (BESS) projects. The financing will fuel the development of two large-scale BESS facilities, set to enhance grid reliability and support the country's renewable energy (RE) ambitions.

Fuel prices saw an uptick Monday following a temporary rollback last week, primarily driven by growing concern over the availability of crude oil from Russia and Iran. These concerns are rooted in ongoing U.S. sanctions and persistent geopolitical tensions in the Middle East.

Listed firm Basic Energy Corp. and RENOVA Inc. have completed the Joint Development and Shareholders’ Agreement, marking a key milestone in their partnership for RDG Wind Energy Corp. This agreement follows Basic’s fulfillment of the stipulated conditions precedent and includes minor amendments to clarify equity allocation between the two companies.

Aboitiz Power Corp.’s renewable energy arm is moving forward with a major solar initiative in Negros Occidental, which will significantly bolster the country’s green energy sector.