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.
Security Bank Corporation has served as the sole lender for the 17.4 MW Solana Solar Beta solar power facility in Hermosa, Bataan. Developed by SSBI under CN Green Roof Asia, the project will generate around 35.5 gigawatt-hours of clean electricity yearly, supplying 10 MW under a 20-year deal with Peninsula Electric Cooperative (PENELCO).
Scientists have found that the humble bitaog tree—also known as Palo Maria, Tamanu Tree, Dangkalan, or Alexandrian laurel—that are common along Philippine coastlines and often overlooked, produces an oil rich in compounds prized by the skincare industry.
Every handwoven Philippine textile tells a story. HABI: The Philippine Textile Council wants to make sure buyers know the difference between an authentic heirloom and an imitation dressed up in tradition.
Airlines are ramping up flights between North America and the Philippines as robust demand continues to buck a broader slowdown in outbound travel from the US and Canada, reinforcing confidence in one of the country's most valuable tourism markets.