Tag: Department of Social Welfare and Development

The Visayas grid remained under yellow alert from 4 to 8 p.m. today, marking the eighth day this month the alert has been raised, with red alerts also triggered earlier in May. The National Grid Corporation of the Philippines reported low power reserves: available capacity stood at 2,692 MW against a peak demand of 2,503 MW. The strain stems from multiple long-term plant shutdowns—some inactive since as early as 2021—and 15 plants running below full capacity. Major facilities out of service include two units of Therma Visayas Inc. and a plant owned by Meralco Power Gen Corp., together making up over half of the unavailable supply.

The Securities and Exchange Commission (SEC) has canceled the registration of Mount Peak Securities Inc. as a broker-dealer due to serious violations of securities laws, including fake financial reports, use of dummy accounts, and forged client documents. This development helps protect investors and upholds integrity in the local capital market.

ACEN-Silverwolf Pte Ltd, a joint venture of ACEN Renewables International and Silverwolf Capital, has signed a non-binding memorandum of understanding with Ocean Sun AS to explore rolling out floating solar technology across key Asian markets. Disclosed recently, the agreement sets the stage for a potential formal partnership focused on building large-scale solar installations on freshwater reservoirs and inland water bodies, pending necessary approvals and final contracts. This collaboration combines ACEN-Silverwolf’s strong regional renewable energy experience with Ocean Sun’s patented, specialized technology designed for efficiency and durability in freshwater settings. The deal is significant as it supports ACEN’s broader goal of reaching 20,000 MW of renewable capacity by 2030 and achieving net-zero emissions by 2050, while advancing cost-effective clean energy solutions across the region.

The Asian Infrastructure Investment Bank (AIIB) has approved a USD300 million senior unsecured corporate loan to International Container Terminal Services Inc. (ICTSI), marking its first non-sovereign-backed deal in the Philippines and signaling rising investor confidence in the country’s logistics infrastructure.