Indonesian state-owned enterprise Pertamina New & Renewable Energy, formed a strategic partnership with Citicore Renewable Energy Corp. (CREC) through
Indonesian state-owned enterprise Pertamina New & Renewable Energy, formed a strategic partnership with Citicore Renewable Energy Corp. through a landmark share subscription agreement.
Pertamina NRE also gained access to CREC’s unique expertise in project development and engineering, procurement and construction. “The partnership with Pertamina NRE presents limitless opportunities for Indonesia and the Philippines to collaborate on innovative technologies and practices in renewable energy. It gives a wider stage to CREC’s unique end-to-end capabilities by opening doors in Indonesia even as we drive our developments in the Philippines at full speed,” said CREC president and chief executive Oliver Tan.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Renewable Energy Trading Commences in PhilippinesThe Philippines officially launches the trading of Renewable Energy Certificates (RECs) on December 26th, marking the full commercial operation of the Renewable Energy Market (REM). RECs represent one megawatt-hour of electricity generated from renewable sources like solar, wind, and hydro. The REM facilitates trading to help participants meet their renewable energy compliance obligations under the Renewable Portfolio Standards (RPS). This initiative supports the country's clean energy transition goals of achieving 35% renewable energy in power generation by 2030 and 50% by 2040.
Read more »
Philippines Set for More Green Energy Auctions in 2024Following a year of policy advancements aimed at accelerating renewable energy development, the Philippines is poised for an increase in green energy auctions. The Developers of Renewable Energy for AdvanceMent Inc. (DREAM) anticipates further auctions for various renewable energy sources, driven by government efforts to attract foreign investment and ensure a stable energy supply.
Read more »
MMSU Recognized for Sustainable Energy Development at Sustainable Energy Awards 2024Mariano Marcos State University (MMSU) was the sole Philippine higher education institution to receive special recognition at the Sustainable Energy Awards 2024 from the Department of Energy (DOE) for its contributions to sustainable energy development. MMSU Vice President for Resource Generation and Management Bjorn Santos accepted the award on behalf of MMSU, highlighting its commitment to promoting renewable energy technologies and supporting the nation's sustainable energy goals. MMSU's long-standing partnership with the DOE dates back to the 1980s, and the university has been instrumental in leading various renewable energy initiatives, including bioethanol research and capacity-building programs.
Read more »
Power Sector Awaits Policy Implementation to Boost Renewable EnergyPower industry stakeholders are investing heavily in renewable energy (RE) projects, but they urge the government to expedite the implementation of existing policies and guidelines. While supply is expected to improve in 2025 due to new thermal and RE plants, concerns remain about grid stability and the integration of energy storage systems. The Department of Energy (DOE) has included Integrated Renewable Energy and Energy Storage System (IRESS) in the Green Energy Auction (GEA4), but the auction date is yet to be announced.
Read more »
Japan Sets Ambitious Renewable Energy Targets for 2040Japan plans to significantly increase its reliance on renewable energy sources and nuclear power by 2040, aiming to meet rising electricity demands while reducing its carbon footprint.
Read more »
Renewable Energy Firm Turns Over Royalty Shares to Indigenous Communities in BukidnonHEDCOR Inc., the renewable energy asset manager of Aboitiz Power Corp., has distributed P5,140,167.01 in royalty shares to indigenous peoples (IP) communities in Bukidnon for 2022-2023. The funds will support various community initiatives, including livelihood assistance, skills training, scholarships, and elder care programs.
Read more »