The average price of electricity sold at the Wholesale Electricity Spot Market (WESM) skyrocketed by 95.5 percent in March, signaling a strain on the Philippine energy market due to rising demand and tightening power supply.
ACE Corp., the renewable energy arm of the Ayala Group, announced that its subsidiary, GIGA ACE 6 Inc., has secured a loan of up to P34.41 billion to finance its 344.5-megawatt onshore wind power project, which spans towns in Quezon and Laguna.
Electricity Generating Public Co. (EGCO), a Thai energy company, has secured a 15-year power supply agreement (PSA) of 400 megawatts (MW) for its coal-fired Quezon Power plant in Mauban, Quezon.