Aboitiz Power Corp., the power generation and distribution unit of the Aboitiz Group, posted a net income of P10.6 billion in the third quarter, a 5 percent gain from the year-earlier period, driven mainly by improved margins from its generation segment.
Aboitiz Power Corp. said its wholly-owned subsidiary, Aboitiz Renewables, Inc., has received confirmation from the Power Sector Assets and Liabilities Management Corp. (PSALM) that the Thunder Consortium has been awarded the sale and privatization of the Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plant Complex.
The power distributor Manila Electric Co. (Meralco) is now compelled to temporarily procure supply from the Wholesale Electricity Spot Market (WESM) as the contracted emergency power supply agreement (EPSA) with Aboitiz Power Corp. worth 300 megawatts (MW) ended on Wednesday.
The Manila Electric Co. (Meralco) is confident it can exceed last year’s record net income of ₱50.57 billion, citing rising electricity demand and stronger business performance.
The Philippine cement industry has unveiled a long-term roadmap to sharply reduce carbon emissions by 2050, seeking to reconcile the country's growing demand for cement with mounting pressure to decarbonize one of its most emissions-intensive industries.
The National Water Resources Board (NWRB) has brought together Metro Manila local government units and key national agencies to prepare coordinated measures against the expected impact of El Niño on water resources.
Lazada Philippines is stepping up its support for micro, small and medium enterprises (MSMEs), expanding partnerships with government agencies and relaunching its LazGrow Together program to help more Filipino entrepreneurs compete in the country's fast-growing digital economy.