MANILA : The Philippines will in June auction rights to build up to 11,600 megawatts of new power capacity from renewable sources in the next three years, the Department of Energy said, as it seeks to gradually reduce its reliance on coal. The additional capacity will come from solar, onshore wind, biomass and waste-to-energy resources. […]
Philippines agrees 2 GW offshore wind power with Danish investment fund – EQ Mag
The Philippines’ Department of Energy said on Thursday it had signed three contracts with a Danish fund manager for offshore wind energy development projects with a total capacity of 2,000 megawatts. There will be a 25-year operating period for the service contracts with Copenhagen Infrastructure New Markets Fund (CINMF), which is the first foreign firm […]
ADB Provides $20 Million Loan to Wyntron to Manufacture EV Charging Equipment in the Philippines
MANILA, PHILIPPINES : The Asian Development Bank (ADB) and Wyntron Inc. (Wyntron) has reached financial close for a $20 million loan for capital expenditure to expand the manufacture and export of electric vehicle (EV) charging equipment in the Philippines. The financing will be used to purchase and refurbish production facilities and to procure essential machinery […]
Philippines’ Citicore prepares for IPO, to invest $4 bln in renewable energy – EQ Mag
MANILA : Citicore Renewable Energy Corp, one of the Philippines’ biggest solar power producers, is planning to go public this year to fund a $4 billion investment in new solar projects over the next five years, its CEO said on Friday. “For a country such as ours with limited oil and coal but have abundant […]
Philippines’ Citicore prepares for IPO, to invest $4 bln in renewable energy – EQ Mag
MANILA : Citicore Renewable Energy Corp, one of the Philippines’ biggest solar power producers, is planning to go public this year to fund a $4 billion investment in new solar projects over the next five years, its CEO said on Friday. “For a country such as ours with limited oil and coal but have abundant […]
ADB Provides $4 Million Loan to CARD to Expand Microfinance Access for Women in the Philippines
MANILA, PHILIPPINES : The Asian Development Bank (ADB) has disbursed a $4 million loan to the Center for Agriculture and Rural Development (CARD), Inc. (A Microfinance NGO), to expand lending to low-income borrowers, especially women, in the Philippines. The loan will increase the funding capacity of CARD, to provide working capital for micro-borrowers, many of […]
ADB Ranks Highly in New Development Finance Institutions Transparency Index – EQ Mag
MANILA, PHILIPPINES : The Asian Development Bank (ADB) has been rated the most transparent development finance institution (DFI) for sovereign operations and in the top three for private sector operations in a newly launched DFI Transparency Index published by British nongovernment organization Publish What You Fund. “Transparency and accountability are at the heart of ADB’s […]
ADB Sells $5.5 Billion Dual Tranche 3- and 10-Year Global Benchmark Bonds – EQ Mag
MANILA, PHILIPPINES : The Asian Development Bank (ADB) yesterday priced a 3-year global benchmark United States (US) dollar bond worth $3.5 billion and a 10-year global benchmark US dollar bond worth $2 billion, proceeds of which will be part of ADB’s ordinary capital resources used to support development across Asia and the Pacific. “We appreciate […]
ADB, Tiger Infrastructure Sign $40 Million Loan to Support Rural Connectivity in Southern Philippines – EQ Mag
MANILA, PHILIPPINES : The Asian Development Bank (ADB) signed a $40 million loan with Tiger Infrastructure Philippines, Inc. (Tiger Infrastructure) to build 380 telecommunications towers in the Mindanao and Visayas regions of the Philippines. This infrastructure will enable mobile network operators to provide a full range of mobile and data services to consumers. The financing […]
Third quarter 2022: Strong performance driven by the Philippines: Scatec -EQ Mag Pro
Oslo : In the third quarter 2022, Scatec’s proportionate revenues increased by 52% to NOK 1,818 million (1,196) with an all-time high EBITDA of NOK 850 million (767). Power production rose to 1,135 GWh (1,065). “We reported strong results from our diversified portfolio of power plants driven by the solid performance in the Philippines. We […]
