March 23, 2016 - P900M bulk water contract inked
Officials of Bacolod City Water District and the consortium Mactan Rock Industries, Inc., TGV Builders Inc. and Tubig Pilipinas Group, Inc. signed a 25-year contract for the implementation of the approximately P900 million worth of bulk water supply project for Bacolod City last night.
The signing held at the Baciwa Board room at about 8 p.m. yesterday in time with the observance of World Water Day, was witnessed by Baciwa chairman Ma. Aida Torre, Director David Villanueva, Assistant General Manager for Operations Genelyn Gemora, Baciwa Union president Claudio Salmo and Bacolod Mayor Monico Puentevella.
The 25-year contract was signed by Baciwa general manager Mario Macatangay together with other principal signatories, Simplicio Belisario and his son, Conrado Belisario, president and corporate secretary of TGV Builder, respectively; Antonio Carmelo Tompar of Mactan Rock Industries and Ryan Wesley Yapkianwee of Tubig Pilipinas.
Torre said that after the signing of the contract they will issue the consortium a notice to proceed so they can start the project already.
She said the three companies will form a joint venture under a new name Bacolod Bulk Water, Inc. After they signed the deed of undertaking last month, the three companies have committed to come up with the registration of the joint venture company within three months or even sooner, and this incorporation is stipulated in their contract with Baciwa, she said.
Torre said they expect day one of the delivery after 18 months following the issuance of the notice to proceed, which they expect to issue as soon as possible.
She said they know that water supply in Bacolod is inadequate but they are looking forward to the start of the bulk water supply project and given a little time, they will be able to address the problem.
Tompar of Mactan Rock Industries said they have 18 months to deliver water supply and they have already made representation with the National Water Resources Board insofar as their water rights permit is concerned.
Tompar said they are the first bulk water supplier in the country and have long term experience in the business. They also hope to deliver better service in the implementation of the project, he said.
The bulk water supply project requires the supplier to provide Baciwa with potable water sourced from springs or surface water only at a minimum volume of 10,000 cubic meters to a maximum of 15,000 cubic meters per day per injection point for the first year with increasing volume over the contract period.
It has an Approved Budget Capital at a fixed price of P10 per cubic meter, equivalent to P54,750,000 for the first year for each injection point for 25 years.
Macatangay said the bid price offered by the consortium for injection point 1 per cubic meter is P8.85 and P9.85 for injection point 2, which is below the ceiling of Baciwa.
The two injection points are located at the ground reservoir in Hda. Loygoy, Brgy. Granada for injection point 1 with 9,842 cubic, he said.
Meanwhile, Puentevella said he is very positive that the project of Baciwa will address the water problem in Bacolod. This will boost water supply and would be a big help in enticing investors to the city, he said.
He congratulated Baciwa for the project and said that they are looking forward to a better water system in Bacolod City.
Torre said that since they have already signed the contract, they can invite the Utilities Consumers Alliance of Negros and other interested parties to see all the documents since they want the public to understand what the project is all about.*CGS
March 12, 2016 - Investment in RE needed to meet carbon-reduction target–Repower
THE Philippines need to invest in renewable energy (RE) to achieve its target to reduce its carbon footprint by 75 percent between 2020 and 2030.
This was stressed by Repower Energy Development Corp. (REDC) CEO Dexter Y. Tiu as the company joins the celebration the World Sustainable Energy Day.
REDC is an RE company utilizing breakthrough technologies for energy production, through hydropower that promote environmental sustainability.
The Philippines, under its Intended Nationally Determined Contribution submission to the secretariat of the United Nation Framework Convention on Climate Change prior to the 21st session of the Conference of Parties (COP) held in Paris, France, last December promised to reduce carbon emission by 75 percent.
Under COP21, 196 countries, including the Philippines, agreed on the goal to cut carbon emission, which will reduce global warming under 2° Celsius and build a carbon-free world economy in the second half of the century.
Developed countries with existing RE plants have also committed to further investments in renewable technologies. The carbon-emission reduction target promised by the Philippines would come from the sectors of energy, transport, waste, forestry and industry.
Environment Secretary Ramon J.P. Paje earlier said that the government is looking at the Green Climate Fund (GCF) as a vital source of support for the country to achieve its commitment.
On the other hand, Environment Undersecretary Jonas R. Leones said massive reforestation and waste-to-energy projects are potential projects in which the government can apply for GCF funding.
Expanding the forests and investing in waste-to-energy projects will enhance the country’s carbon-emission capacity, while capturing methane to be converted into energy will reduce carbon emission, Leones said.
To achieve its ambitious carbon emission-reduction target, Tiu said that the Philippines need more investments in RE projects.
With the country’s buoyant urban and economic growth, energy requirements grow at a rate that is difficult to fulfill, he said. REDC believes this can be addressed by increasing investments in RE to fill the gap and at the same time cut the country’s carbon emissions.
February 22, 2016 - More RE investments needed for COP21 goals
THE Philippines should continue to invest in renewable energy to meet the climate goals set out in the 2015 Paris Climate Conference (COP21) in which the country is a signatory.
"We need more investments in renewable energy for the country to reach its carbon commitments," said Dexter Y. Tiu, chief executive of Repower Energy Development Corporation (REDC), as part of the company’s celebration of World Sustainable Energy Days.
REDC is a renewable energy company utilizing breakthrough technologies for energy production through hydropower that promote environmental sustainability.
Under COP21, 196 countries including the Philippines agreed on the goal to cut carbon emissions in order to keep global warming this century below 2 degrees Celsius and build a carbon-free world economy in the second half of the century.
Developed countries with existing renewable energy plants have also committed to further investments in renewable technologies.
With the Philippines’ buoyant urban and economic growth, energy requirements are growing at a rate that is difficult to fulfill, REDC noted. This can be solved by increasing investments in renewable energy to fill the gap and at the same time cut the country’s carbon emissions, it said.
In 2008, the government enacted the Renewable Energy Act to promote renewable energy, but the country is still struggling to boost the industry because investing in renewables is more costly than investing in coal and fossil fuel.
Tiu said the debate between advocates of traditional sources of energy and renewables should not be a matter of choosing between a vibrant economy and a healthy environment.
"Some companies in the country are now using energy from renewable sources like solar, geothermal, and hydro power plants. For them, it’s not just a strategy to sustain future energy needs but also a business policy."
The Philippines has a strong potential capacity in renewable energy, which makes up a significant portion of the 12,128 megawatt daily energy generation, or a minimum of 30 percent of the country’s total energy source, indicating great potential for growth.
As part of its effort to accelerate its investments in renewables, REDC recently acquired Philippine Power and Development Company (Philpodeco), owner of the country’s three oldest operating mini-hydropower plants in Laguna, to increase the plants’ output after a considerable P300 million overhaul.
January 10, 2016 - Meralco dips into mini-hydro development
MANILA, Philippines – Power distributor Manila Electric Co. (Meralco) is taking control of a joint venture with Repower Energy Development Corp. (REDC) in renewable energy (RE) development.
In a disclosure to the Philippine Stock Exchange, Meralco said the agreement with REDC would entail the establishment of a joint venture company that would pursue and undertake the development of various hydroelectric power projects.
Meralco will have an "equity stake equivalent to 50 percent minus one share of the authorized capital stock of the proposed JVC".
The partnership marks Meralco's foray into mini-hydropower development.
The partners will hold a series of ground breaking ceremonies for mini-hydropower plants in select regions starting in the first half of the year.
REDC has over 100 megawatts (MW) of mini-hydropower projects clustered in Quezon, Camarines Sur, Bukidnon, and other provinces under development with investments worth $400 million.
The joint venture will have its first set of hydropower plants operational by 2019. These facilities will avail of the feed-in-tariff (FIT) scheme mandated by the Renewable Energy Act of 2008.
The FIT system entitles power developers to receive a set of incentives for a period of time to build RE projects.
Developers of run-of-river hydro projects, on the other hand, are entitled to a FIT allowance rate of P5.90 per kilowatt-hour.
January 9, 2016 - Meralco, Repower to form new hydropower company
DOMINANT power distributor Manila Electric Co. (Meralco) signed on Wednesday a shareholders' agreement with Repower Energy Development Corp. to form a joint-venture company to the develop of various hydroelectric power projects in the country.
In a disclosure to the Philippine Stock Exchange, Meralco said under the deal, the company will have an equity stake of 50 percent minus one share of the authorized capital stock of the proposed joint venture firm.
It will be recalled that Meralco and Repower have earlier agreed to form the joint venture for the development of mini hydropower plants across the country.
It will be Meralco's first foray into mini-hydropower development, a renewable energy source.
Founded in 1891, Meralco is the Philippines' largest distributor of electric power. It is Metro Manila's only electric power distributor and holds the power distribution franchise for 22 cities and 89 municipalities, including the whole of the National Capital Region, as well as the provinces of Bulacan, Cavite, Rizal, Batangas, Laguna, and Quezon.
Meralco (PSE:MER and MERB) is list ed in the Philippine Stock Exchange and is part of the exchange index (PSEi).
Meanwhile, Repower was established in 2013 to address the country's call for additional investments in the renewable energy sector, with the goal of setting up and operating hydropower plants all over the country.
The firm is focused on expanding its hydropower projects in target areas in the country, using the "clustered approach method" done by building several hydropower projects in a particular area, "resulting in increased energy capacity output, utilizing the same transmission lines, infrastructure developments, and other fixed costs, and economies of scale."
To date, the firm has over 100 megawatts (MW) of mini-hydropower projects clustered in Quezon, Camarines Sur, Bukidnon, and other provinces under development, representing a total investment of $400 million.
January 8, 2016 - Meralco, Repower seal joint venture deal
The Manila Electric Co. (Meralco) and Repower Energy Development Corp. have secured the terms of a joint venture deal to build hydropower plants.
"The company signed today, January 7,2016, the joint venture agreement (JVA) and shareholders' agreement (SHA) with Repower Energy Development Corp.," Meralco told the stock exchange on Friday.
The deal covers the establishment of a joint venture company for developing hydroelectric power projects.
The SHA obliges Meralco to have an equity stake equivalent to 50 percent, minus one share, of the authorized capital stock of the proposed company.
Repower is currently developing over 100 megawatts (MW) of mini-hydropower projects in Quezon, Camarines Sur, Bukidnon, and other provinces.
"This represents a $400-million investment in mini-hydropower development," Meralco said last month.
The joint venture will take advantage of the feed-in-tariff (FIT) scheme – as spelled out in the Renewable Energy Act of 2008 – with the FIT rate of P5.9 per kilowatt hour guaranteed by the government for 20 years.
January 8, 2016 - Meralco forms mini-hydro JV with Repower
MANILA Electric Co. (Meralco) and Repower Energy Development Corp. have agreed to put up a joint venture company that will pursue and develop various hydro electric power projects, the utility told the stock exchange.
It also disclosed that the two companies have signed a shareholders' agreement in which Meralco will have an "equity stake equivalent to fifty percent minus one share (50%-1 share) of the authorized capital stock" of the joint venture company.
The deal follows the companies' agreement in December last year to build and develop mini-hydropower plants, which Repower said represented an investment of $400 million.
Repower said that with the partnership, Meralco would be able to provide millions of its customers with green, sustainable energy by harnessing the country's hydro electric power capabilities.
Repower has over 100 megawatts of mini-hydropower projects being developed in Quezon, Camarines Sur, Bukidnon and other provinces. Its Rangas mini-hydropower project in Camarines Sur broke ground early this month. The company is set to start in the first quarter of 2016 another project in Labayat, Quezon.
In November, Repower acquired Philippine Power and Development Co., owner of the country's three oldest operating mini-hydropower plants. These plants in Laguna sell their power output to Meralco, the country's largest electricity distributor.
Meralco's controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by Philippine Long Distance Telephone Co. (PLDT).
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls.
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