Singaporean firm inks P20-B deal for 17.5% stake in AC Energy Philippines
Singapore’s GIC Private Limited, through an affiliate, is set to invest P20 billion to acquire a 17.5% ownership stake in AC Energy Philippines Inc. (ACEN), with an investment agreement inked last week.
2020: a dismal year for coal power
Plans for expansion in South and Southeast Asia were finally re-evaluated, with little prospect for a revival this year
Thai PTTEP set to invest $2bn in Myanmar gas fields and power plant
YANGON — PTT Exploration and Production, a unit of Thailand’s state-owned energy conglomerate PTT, plans to invest $2 billion in the development of natural gas fields and power plant construction in Myanmar. The move will expand the company’s operations in the neighboring country, which is experiencing chronic power shortages.
MIC approves five new investment proposals including two 30 MW solar projects
The Myanmar Investment Commission (MIC) gave the green light to five new investment proposals including two 30 MW solar projects and approved the four existing projects for capital expansion, state media reported.
Aboitiz Power on track to double capacity
MANILA, Philippines — Aboitiz Power Corp. said it remains on track to more than double its capacity by 2030 despite the negative impact of the COVID-19 pandemic on the power sector.
BGRIM earmarks B50bn for expansion
Newly appointed president and chairman of B.Grimm Power Plc (BGRIM), Harald Link, has announced a 50-billion-baht capital spending campaign next year for power generation business expansion.
Myanmar set for more than $1 billion of upstream investment
With Myanmar’s general elections in the rearview mirror, upstream development expenditure could more than double to over $1 billion by 2023 compared to this year’s spend.
AC Energy approves financing for P10 billion renewable projects
MANILA, Philippines — AC Energy Philippines Inc. has cleared financing for its solar and wind projects worth P10 billion, slated for construction early next year.
