ACEN units get P12 87 billion funding for RE projects philstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philstar.com Daily Mail and Mail on Sunday newspapers.
Danessa Rivera - The Philippine StarDecember 30, 2021 | 12:00am MANILA, Philippines ACEN Corp., the power platform of the Ayala group, is raising its investments by P7 billion each in two subsidiaries which are developing solar and wind projects. In separate disclosures to the Philippine Stock Exchange yesterday, ACEN said it signed subscription agreements with Santa Cruz
(JANSEN ROMERO / MANILA BULLETIN)
Thus, said Alyansa ng mga Grupong Haligi ng Agham at Teknolohiya para sa Mamamayan (Agham) President Angelo B. Palmones Wednesday, Feb. 17, as he presented details about the power contract hopeful’s background.
The consumer group noted that in October 2020, the Department of Energy (DOE) issued a moratorium on endorsing greenfield or new coal-fired power plant projects notwithstanding committed projects and expansion projects.
“Our group stresses that the Kingstone project is actually covered by the DOE moratorium against coal power plants. Thus, they are outrightly disqualified,” Palmones said.
He also claimed Kingstone, which is bidding to supply 1,200 MW under the Meralco deal, is a Hong Kong-based company. The former congressman further said that Kingstone was solely represented by a law firm during the competitive selection process (CSP) for the power supply deal.
A consumer advocate group has told disqualified bidders from the Manila Electric Company's (Meralco) 1,800-megawatt (MW) supply deal to "stand down" and let the competitive selection process (CSP) move forward.