Converge ICT Solutions Inc. sealed a P5-billion loan deal with state-owned Land Bank of the Philippines to fund its nationwide fiber internet rollout. Pampanga-based businessman and Converge CEO Dennis Anthony Uy said on Friday this would also allow the company to expand its presence in “unserved and underserved” areas in the Philippines. According to Converge,…
The island of Negros is not only distinguished as the country’s “sugar bowl” for producing half of the country’s sugar output, it is also at the forefront of producing biomass for power generation. In its mills, sugar and renewable energy go hand in hand as bagasse, a sugarcane byproduct, is used to power equipment. Negros…
On the surface, coal power makes for a compelling business proposition. It is the cheapest fossil fuel in terms of energy content. It is relatively abundant, and relies on proven technology to generate electricity that is safe to operate and efficient. It is also reliable, with coal-fired plants having the ability to provide so-called baseload…
The Philippines has been slow to action and way behind its commitments to global initiatives on reducing or avoiding gas emissions harmful to the environment, despite the existence of many laws seeking to promote the use of renewable energy sources. Instead of attracting investors in power projects run by nonfossil fuels, the current regulatory environment…
The shift to more targeted lockdowns and the plan to ramp up mass vaccination will augur well for the Philippines’ economic recovery, which think tank Moody’s Analytics on Thursday said had been slowed down by prior missteps in pandemic response. “The Philippines is beginning to take a more integrated approach to managing the economic impact…
Apollo Global Capital, Inc. (APL) has raised from its recently concluded follow-on offering (FOO) as it prepares for its offshore mining project in Cagayan, the first of its kind in the country. In a press statement, APL said the funds would be used mainly for the procurement of equipment and insurance for its magnetite iron…
San Miguel Corp.’s (SMC) P740-billion airport and mixed use development being built in Bulacan will incorporate sustainable and environmentally friendly features that will address the shortcomings of current urban centers, including a proposal to integrate a “bicycle highway” with a train system. Thus said company president Ramon Ang, who on Tuesday said the country’s largest…
Semirara Mining and Power Corp. (SMPC) has turned over close to in royalty payment to the Department of Energy for the second quarter, which the coal and electricity producer said was the highest ever in its history. SMPC said in a statement the record-high amount was generated after recognizing P14.8 billion in revenue on the…
After the three-day “Welgang Bayan” (People’s Strike) against the Bataan Nuclear Power Plant (BNPP) in June 1985 and the mothballing of the 620-megawatt facility a year later by President Corazon Aquino in the wake of the Chernobyl nuclear disaster in Russia, Julito Velasco thought his fight to defend the environment and the…
The extent of this pandemic and its harrowing impact might have been underestimated when it first hit the country. Most of us likely thought that it won’t be a big deal and we’ll just continue on with our weekend dinners and vacation plans. At Globe, we made the right decision not to take it lightly—we…