Energy & Mining

Alternergy Holdings Corp. subsidiary Alternergy Tanay Wind Corp. has secured the third drawdown of ₱1.4 billion from its ₱5.3-billion loan facility with Bank of the Philippine Islands (BPI) and Security Bank, the company announced Sunday.

Motorists and businesses can expect mixed movements in fuel prices starting Tuesday, as oil firms, including Jetti Petroleum Inc., announce adjustments that reflect recent global supply and demand developments.

Basic Energy Corp. is preparing to invest up to P300 million over the next two to three years to fund pre-development activities for its solar and wind energy projects, according to company president and CEO Oscar De Venecia Jr.

Aboitiz Power Corp.'s renewable energy arm Aboitiz Renewables Inc., has secured the certificate of approval to connect from the National Grid Corporation of the Philippines (NGCP) for its 137.4 MW Calatrava solar power project in Negros Occidental. This development clears the way for the facility's commercial operation and formal integration into the national grid.

The country's floating solar sector is set for faster development following the signing of supply contracts enabling the local manufacture of critical components, according to the Department of Energy (DOE).