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PSALM expects P100 billion from CBK privatization
The Power Sector Assets and Liabilities Management Corp. (PSALM) is expected to generate as much as P100 billon from the privatization of the 796.46-megawatt (MW) Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plant complex in Laguna, bolstering the cash position of the cash-strapped state firm......»»
First Gen to upgrade, expand Casecnan plant
Lopez-led First Gen Corp. is expanding and upgrading the Casecnan hydroelectric power plant after taking over the facility last month......»»
US Officials Warn of New Axis of Evil With China at the Fore
WASHINGTON - U.S. military and defense officials are increasingly concerned that as China and Russia forge ever stronger ties, they might attempt to challenge Western unity and eventually alter the balance of power on the world stage.The commander of U.S. forces in the Indo-Pacific told lawmakers on the House Armed Services Committee that the evolving relationship between Beijing and Moscow is a "big portion" of.....»»
UN chief convenes ‘no nonsense’ climate summit, without China or US
UN Secretary-General Antonio Guterres is set Wednesday to host a climate meeting marred at its outset by the absence of speakers from the world's top two emitters, China and the United States. Despite increasing extreme weather events and record-shattering global temperatures, greenhouse gas emissions continue to rise and fossil fuel companies reap handsome profits. Guterres has thus billed the "Climate Ambition Summit" as a "no nonsense" forum where leaders or cabinet ministers will announce specific actions that deliver on their commitments under the Paris Agreement. The bar for making the podium was set high, with the UN chief making clear that only leaders who had made concrete plans to achieve net-zero greenhouse emissions would be allowed to speak. After receiving more than 100 applications to take part, the UN finally released a list on Tuesday night of 41 speakers which did not include China, the United States, the United Kingdom, Japan or India. "Tomorrow, I will welcome credible first movers and doers to our Climate Ambition Summit," Guterres said Tuesday. Several major leaders didn't bother making the trip to New York for this year's UN General Assembly, including President Xi Jinping of China and Prime Minister Rishi Sunak from the United Kingdom, who said he was too busy. US President Joe Biden, who addressed the General Assembly on Tuesday, sent his climate envoy John Kerry to the meeting -- though Kerry won't be permitted to speak. "There's no doubt that the absence of so many leaders from the world's biggest economies and emitters will clearly have an impact on the outcomes of the summit," Alden Meyer of climate think tank E3G said. He blamed competing issues -- from the Ukraine conflict to US-China tensions and rising economic uncertainty. "But I think it's also the opposition in many of these countries from the fossil fuel industry and other powerful interests to the kind of transformational changes that are needed," said Meyer. Catherine Abreu, executive director of nonprofit Destination Zero, said it was "perhaps a good-news story that we see Biden not being given a speaking slot at the summit" because the United States is continuing to expand fossil fuel projects even as it makes historic investments in renewables. "I think about this as being a correction from past summits, where leaders have been given the opportunity to take credit for climate leadership on the global stage, while they continue to pursue plans to develop fossil fuels, and continue driving the climate crisis back at home," she added. While the United States won't take the rostrum, California will be represented by Governor Gavin Newsom. From Britain, London Mayor Sadiq Khan will also attend. Growing anger The event is the biggest climate summit in New York since 2019, when Greta Thunberg stunned the world with her "How Dare You" speech before the UN. Anger is building among climate activists, particularly younger people, who turned out in thousands last weekend for the "March to End Fossil Fuels" in New York. Observers are eager however to see what Canadian Prime Minister Justin Trudeau and European Union President Ursula von der Leyen say both on their own goals and on financing commitments for the developing world. The failure of advanced economies, responsible for the majority of historic emissions, to honor their promises to the worst affected lower-income nations has long been a sore point in climate talks. There are some bright spots, including the announcement that Colombia and Panama are joining a grouping called the Powering Past Coal Alliance -- particularly notable as Colombia is the world's sixth biggest coal exporter. Wednesday's summit comes weeks ahead of the COP28 climate talks in the United Arab Emirates, where goals include tripling renewable energy by 2030, and ending by 2050 the generation of fossil fuel energy that isn't "abated" by carbon capture technology. The post UN chief convenes ‘no nonsense’ climate summit, without China or US appeared first on Daily Tribune......»»
OPAPRU welcomes PBBM’s support to Bangsamoro, amnesty program
The Office of the Presidential Adviser on Peace, Reconciliation, and Unity welcomed President Ferdinand Marcos Jr.’s unwavering support to the Bangsamoro region and his commitment to helping former rebels in their transformation process. OPAPRU Secretary Carlito Galvez Jr. on Tuesday thanked Marcos for mentioning the gains and progress of the Bangsamoro Autonomous Region in Muslim Mindanao during his second State of the Nation Address on 24 July. "What we have witnessed… is President Marcos' genuine sincerity in implementing all the signed peace agreements, and his commitment to bring sustainable peace throughout the country. This is true to his mantra of unity towards national healing and reconciliation," Galvez said after Marcos cited BARMM’s progress and effective self-governing. Galvez recalled that just less than two months into his administration, Marcos administered the oath of office to 80 newly reappointed members of the Bangsamoro Transition Authority on 12 August 2022. This is the first time that the composition of the BTA includes members of the Moro National Democratic Front, particularly from the group of its founding chairman Nur Misuari. In his speech, Marcos emphasized the great potential of the region and stressed that "through the BARMM, we have strengthened the nation’s prospects for finally achieving sustainable progress anchored on a true and lasting peace in Southern Philippines. We will continue to support the progress of the BARMM, apace with our singular vision for all Filipinos." He said the national government is expanding its energy resources to include the BARMM. On 6 July, Marcos previously witnessed the signing of the Intergovernmental Energy Board Circular (EIB) on the Joint Award of Petroleum Service Contracts and Coal Operating Contracts in the BARMM, which marks another major milestone in the Bangsamoro peace process. The IEB Circular operationalizes the provision in Section 10, Article XIII of Republic Act No. 11054 or the Organic Law for the Bangsamoro Autonomous Region, to jointly grant rights, privileges, and concessions for the exploration, development, and utilization of uranium and fossil fuels such as petroleum, natural gas, and coal within the territorial jurisdiction of the Bangsamoro. The Circular aims to boost economic development and draw foreign capital into the region. Amnesty program Meanwhile, Marcos vowed his administration would push for the completion of the reintegration process of the former combatants into “productive members of society” by fully implementing the amnesty program for them. Galvez also welcomed Marcos' promise to issue a proclamation that will grant amnesty to those former rebels in the country that have returned to the folds of the law. In his speech, the President asked Congress to support his endeavor on pushing the amnesty program in the country. The amnesty program is being facilitated by the National Amnesty Commission—a government agency that was created on 25 March 1994 by then-President Fidel V. Ramos, through Proclamation 347. The NAC is primarily tasked to receive and process applications for amnesty that were filed through the Local Amnesty Board. In 2021, Marcos’s predecessor, former President Rodrigo Duterte, likewise, issued Proclamation 1090, 1091, and 1092—were concurred with by Congress and the Senate—to grant amnesty to the members of revolutionary groups who committed crimes in furtherance of their political beliefs which include Moro Islamic Liberation Front (MILF), Moro National Liberation Front (MNLF), and Rebolusyunaryong Partido ng Manggagawa ng Pilipinas / Revolutionary Proletarian Army / Alex Boncayao Brigade (RPMP-RPA-ABB). However, the Senate did not concur with Proclamation 1093, series of 2021, granting amnesty to former members of the Communist Terrorist Group that have committed crimes punishable under the revised penal code and special penal laws in the furtherance of their political beliefs. Further, Galvez said OPAPRU will be “carrying out the Marcos administration's five-point peace, reconciliation, and unity agenda throughout his term. Among the agenda includes the completion of peace agreements with the MILF and MNLF towards healing and reconciliation in the Bangsamoro; the Ending of local communist armed conflict by expanding the transformation programs for the local conflict peace process; Completion and sustainment of the gains of the signed peace agreements with the RPM-P/RPA/ABB-TPG, and Cordillera Bodong CBA-CPLA; Enhancement of the resilience for peace of communities and vulnerable groups through social healing and peacebuilding approaches in support of the peace processes; and Enhancement of the delivery of Conflict-Sensitive and Peace Promoting-compliant socio-economic interventions in addressing the key drivers of conflict through convergence and complementation in support of the peace processes. The post OPAPRU welcomes PBBM’s support to Bangsamoro, amnesty program appeared first on Daily Tribune......»»
DMCI Power ventures into wind to augment Semirara supply
Off-grid electricity generator DMCI Power Corporation or DPC is planning to independently build a wind power plant that can augment the power supply in Semirara Island, home of the country’s biggest coal reserve, by as much as 12 megawatts. Given the available resources on the island, the company said initial projections showed that the project can generate around 8 to 12 MW of power. “We are also looking at solar energy to augment the supply in the island, but we are prioritizing wind resource development because it has shown the most promise,” DPC president Antonino E. Gatdula, Jr. said in a stock report on Monday. Gatdula noted that wind power could potentially deliver a 33% plant utilization rate, higher compared to just 17% for solar. Yet, capital expenditure per megawatt for resources “is also roughly the same.” The DPC said the operational implementation of the project is expected to take 12 to 15 months. In a 2001 wind resource study conducted by the National Renewable Energy Laboratory, a United States Department of Energy laboratory, it was found that Semirara Island has “some of the best wind resources in the Philippines.” The wind corridors between Luzon and Panay—including Semirara Islands and extending to the Cuyo Islands—were found to have good-to-excellent wind power density and speed for utility-scale or village power applications. The plan will complement the government’s initiatives to increase the share of renewable energy in the country’s total energy mix to 35 % by 2030 and 50 % by 2040. Last year, renewable energy only took up 22.8 % of the total mix. The DPC was established in 2006 to provide sufficient and reliable electricity to areas that are not connected to the main transmission grid, such as Masbate, Palawan, and Mindoro. The post DMCI Power ventures into wind to augment Semirara supply appeared first on Daily Tribune......»»
DMCI Power ventures into wind to augment Semirara
Off-grid electricity generator DMCI Power Corporation or DPC is planning to independently build a wind power plant that can augment the power supply in Semirara Island, home of the country’s biggest coal reserve, by as much as 12 megawatts. Given the available resources on the island, the company said initial projections showed that the project can generate around 8 to 12 MW of power. “We are also looking at solar energy to augment the supply in the island, but we are prioritizing wind resource development because it has shown the most promise,” DPC president Antonino E. Gatdula, Jr. said in a stock report on Monday. Gatdula noted that wind power could potentially deliver a 33% plant utilization rate, higher compared to just 17% for solar. Yet, capital expenditure per megawatt for resources “is also roughly the same.” The DPC said the operational implementation of the project is expected to take 12 to 15 months. In a 2001 wind resource study conducted by the National Renewable Energy Laboratory, a United States Department of Energy laboratory, it was found that Semirara Island has “some of the best wind resources in the Philippines.” The wind corridors between Luzon and Panay—including Semirara Islands and extending to the Cuyo Islands—were found to have good-to-excellent wind power density and speed for utility-scale or village power applications. The plan will complement the government’s initiatives to increase the share of renewable energy in the country’s total energy mix to 35 % by 2030 and 50 % by 2040. Last year, renewable energy only took up 22.8 % of the total mix. The DPC was established in 2006 to provide sufficient and reliable electricity to areas that are not connected to the main transmission grid, such as Masbate, Palawan, and Mindoro. The post DMCI Power ventures into wind to augment Semirara appeared first on Daily Tribune......»»
Holcim flagship cement now Excel ECOPlanet
Highlighting success in significantly reducing the product’s carbon footprint while still delivering equal to better construction performance, one of the country’s known building solutions providers, Holcim Philippines Inc. has rebranded its flagship blended cement, now calling it Excel ECOPlanet. During a recent launch in Pasay City, Holcim Philippines president and CEO Horia Adrian said Excel ECOPlanet will continue to provide excellent performance for general construction applications, with concrete made durable due to its high resistance to sulfate and low porosity. Using Excel ECOPlanet will also improve workability and minimize shrinkage and cracks in concrete, Adrian told reporters. First blended cement for construction Launched over 20 years ago, Excel was among the first blended cement produced by Holcim Philippines for general construction and has become one of the most trusted brands in the market with over two billion bags sold. Through the company’s continuous improvement initiatives, the product’s carbon footprint is now at least 30 percent lower than ordinary Portland Cement qualifying it to bear the ECOPlanet mark, which is reserved for the Holcim Group’s line of high-performance and eco-friendly types of cement. Introduced by the Holcim Group in 2021, ECOPlanet is said to be the world’s broadest range of green cement with at least 30 percent lower emissions to help builders all over the world reduce the carbon footprint of construction. “Excel ECOPlanet is an important milestone in our sustainability journey in the Philippines. It combines the strong legacy of Excel in the country and the Group’s direction of accelerating innovation to decarbonize buildings. We are proud that Excel is classified as an ECOPlanet product and excited to see our customers continue using this in building progress in the country,” according to Adrian. ‘Likas at Lakas’ Further, he said Holcim Philippines will run a campaign called “Likas at Lakas” to underscore its commitment to providing sustainable products for building strong and durable structures. Since 2018, Holcim Philippines has reduced its carbon footprint by more than 20 percent by producing more blended cement, replacing coal with qualified wastes as alternative fuels and raw materials, and improving the efficiency of operations. Moreover, the company has accelerated innovations to produce a wider variety of high-performance blended cement for specific applications such as Solido for roads, Aqua-X for water protection, and WallRight Prime for masonry. Holcim Philippines’ carbon footprint reduction program is aligned with the Holcim Group’s net zero direction and the country’s Nationally Determined Contributions. Aside from its own initiatives, Holcim Philippines is working with key stakeholders to encourage the consumption of low-carbon products to help reduce the footprint of the built environment. The post Holcim flagship cement now Excel ECOPlanet appeared first on Daily Tribune......»»
Risky exposure (1)
In a review of banks’ exposure in energy projects, undertaken by the environmental think-tank Center for Energy, Ecology and Development, conglomerate San Miguel Corporation’s energy arm SMC Global Power Corp., which maintains a host of power plants, including those using coal as fuel, received prominent space. In the discussion, the dilemma that banks face was brought to light amid their financial exposure to SMCGP that may be affected by the maneuvers of SMC and its subsidiaries to, ironically, turn around the unfavorable state of the group. It said that apart from issues of supply, local fossil fuel companies are also feeling the impact of volatile fuel prices. SMCGP, the report said, suffered P15 billion in losses in 2022 due to the rising prices of fossil fuel. In May 2022, two of SMCGP’s subsidiaries filed motions for price adjustment before the Energy Regulatory Commission due to the rising fuel costs that they claimed they could no longer bear and wanted to pass on to consumers. The motions, according to the report, have since been denied, and SMC has brought the matter up to the Court of Appeals. Following the ERC denial of the price adjustment petitions, a Bloomberg intelligence report was released finding that SMCGP risks a funding shortfall as high as $1 billion by next June. The same intelligence report also projected that SMCGP’s current coal exposure might make refinancing more difficult and more costly, as investors increasingly shun coal-fired power plants as a result of the international effort to remove polluting fossil fuel as an energy source. Last year also saw SMC withdrawing the ECC applications for the three proposed fossil gas projects in the Visayas, including a liquefied natural gas project in Negros Occidental that had originally targeted a 2022 commissioning date. Despite its already large fossil fuel portfolio, the report said SMCGP issued Series K Bonds due in 2025, Series L. Bonds due in 2028, and Series M. Bonds due in 2032 with a principal amount of P30 billion and an oversubscription option of up to P10 billion in July 2022. Part of the proceeds of these bonds are allocated for SMCGP subsidiary-owned fossil fuel projects, including the Mariveles Power Generation Corporation’s four 150 megawatt or MW circulating fluidized bed coal-fired power plant in Mariveles, Bataan and Excellent Energy Resources Inc.’s 1.3 gigawatt or GW combined-cycle LNG power plant in Barangays Ilijan and Dela Paz Proper, Batangas. Recently, however, Manila Electric Co. or Meralco announced the termination of its power supply agreements with two subsidiaries of SMCGP, Excellent Energy Resources Inc. and Masinloc Power Partners Co. Ltd. The same power supply agreements would have secured revenue for the two SMCGP power plants to be financed by these bonds. Since the contracts were terminated, these subsidiaries would have to go through the competitive selection process again, where it will be up against fossil fuel and renewable energy or RE generation projects. According to the CEED report, the banks that purchased bonds had essentially exposed themselves and their shareholders, to whom they have a fiduciary responsibility, to fossil fuel projects “at risk of stranding.” “Changing policy, economic, geopolitical, and energy landscapes in the country and around the world demand that banks and financial institutions pay closer attention to and take the necessary action to mitigate these risks and protect their shareholders.” The report indicated that important developments show the tide turning in renewable energy’s or RE’s favor locally. According to the DoE, the Green Energy auction program will hold its second round of bids in June this year. The country will auction off rights to build 3,600 megawatts or MW of new capacity to be installed in 2024, 3,600 MW in 2025, and 4,400 MW in 2026. In all, this will result in an additional 11,600 megawatts of RE on top of the 2,000 MW auctioned off last year, an unprecedented scale of development for renewables in the country. (To be continued) The post Risky exposure (1) appeared first on Daily Tribune......»»
DOE issues advisory clarifying moratorium on new coal projects
The Department of Energy on Monday issued an advisory to clarify the moratorium on the processing of applications of greenfield coal-fired power plants, including exemptions to address the concerns of power stakeholders......»»
Government ends energy neutrality, favors renewables ahead of boom
The moratorium on new coal plant applications was announced in tandem with the relaxation on foreign ownership limits in geothermal energy......»»
Sam Bankman-Fried sentenced to 25 years in prison for power-obsessed scamming
Manhattan Judge Sentences Sam Bankman-Fried to 25 Years in $8 Billion Scam In a shocking turn of events, Manhattan judge has sentenced Sam Bankman-Fried to.....»»
Baltimore bridge accident: Freighter pilot called for tugboat help before plowing into bridge
BALTIMORE — The pilot of the cargo freighter had radioed for tugboat help and reported a power loss minutes before the Baltimore bridge accident, federal safety officials said on Wednesday, citing audio from the ship’s “black box” data recorder. The head of the National Transportation Safety Board also said that Francis Scott Key Bridge, a.....»»
Squirrel involved in power outage provided shelter and care by More Power
Squirrel involved in power outage provided shelter and care by More Power.....»»
Mayor Uy posts cryptic messages amid Igacos power problems
ISLAND Garden City of Samal (Igacos) Mayor Al David Uy posted cryptic messages regarding the power crisis in Igacos......»»
Power fluctuations hit NAIA
Passengers sweltered as power fluctuations hit the Ninoy Aquino International Airport Terminal 2 at around 10 a.m. yesterday......»»
Aboitiz Power Corporation to hold Annual Stockholders Meeting
Notice is hereby given that the Annual Meeting of the Stockholders of ABOITIZ POWER CORPORATION (the "Company") will be held on April 22, 2024, Monday at 9:30 a.m. (the "2024 ASM")......»»
Fetus found in condo’s sewage treatment plant
A fetus was found dumped in the sewage treatment plant of a high-end condominium complex in Quezon City on Tuesday......»»
Cargo ship lost power and issued mayday before hitting Baltimore s bridge, governor says
Cargo ship lost power and issued mayday before hitting Baltimore s bridge, governor says.....»»
Marcos admin eyes building 20 new dams by 2028
To meet the country’s growing demand for water and power, the government is eyeing to build 20 medium and three to five large dams by 2028, the end of President Marcos’ term, according to National Irrigation Administration head Eduardo Guillen......»»