World Bank approves $750-m loan for PH

By Julito G. Rada

THE World Bank said Wednesday it approved a new financing support worth $750 million or P41.25 billion for the policy reforms of the Philippines aimed at boosting environmental protection and climate resilience as the country strives to accelerate economic recovery and boost long-term economic growth.

Called the Philippines First Sustainable Recovery Development Policy Loan, it will support government reforms to attract private investment in renewable energy; enhance plastic waste management through reduction, recovery and recycling; promote green transport including the use of electric vehicles; and reduce climate-related fis-

DOTr asked to pursue bidding for NAIA project

A LOCAL think tank asked the Department of Transportation to proceed with its plan to undertake a competitive bidding for the rehabilitation of the Ninoy Aquino International Airport to protect the public interest.

“The public interest, particularly reasonable terminal fees, is as important as government revenue in public private partnerships such as airport operations. For context, the Manila International Airport Consortium’s revised unsolicited offer of $3.8 billion [P210 billion] is almost 50 percent higher than the DoTr’s recent pronouncement that NAIA’s rehabilitation will cost around P141 billion,” said Terry Ridon, Infrawatch PH convenor and former House transportation committee member.

“It is more than double the private consortium’s original unsolicited offer. In order to properly reflect the public interest in NAIA rehabilitation proceedings, the transport department should opt to proceed with a solicited bid and reject MIAC’s unsolicited proposal,” he said.

Ridon said allowing an unsolicited private proponent to revise its proposal is akin to a ‘fishing expedition’ on the real rehabilitation requirements of the country’s main international gateway.

Darwin G. Amojelar

DOE postpones GEAP 2, awaits final

reserve price

THE Department of Energy postponed the Green Energy Auction Program 2 scheduled on June 19, pending the release of the final reserve price by the Energy Regulatory Commission.

DOE Undersecretary Felix William Fuentebella, chair of the GEA-Bids and Awards Committee, issued an advisory rescheduling the auction.

“Consequently, the auction proper including its preparatory [i.e., submission of proof of posting of bid bond] and subsequent activities under GEA2 shall only be conducted upon the release of the Green Energy Auction Reserve Prices by the Energy Regulatory Commission,” the DOE advisory read.

The ERC previously committed to releasing the GEAR this week. The GEAR prices serve as the ceiling price for the GEAP 2 where the DOE will offer a total capacity of 11,600 megawatts in renewable energy installation target, with 3,600 MW for 2024, 3,600 MW for 2025 and 4,400 MW for 2026.

The ERC set the preliminary GEAR price for different solar technologies: rooftop solar at P4.7156 per kilowatt-hour, ground-mounted solar at P4.2395 per KWh, cal risks from the agriculture sector.

Ndiamé Diop, World Bank country director for Brunei, Malaysia, Philippines and Thailand, said the Philippines has tremendous potential for renewable energy generation, especially in solar and wind.

“Government actions to encourage investments in this sector, such as promoting foreign direct investments and streamlining the permitting process, could unlock this potential,” he said.

“Renewable energy can help the Philippines mitigate climate change and bring numerous benefits, including enhanced energy security, the creation of green jobs, and improved access to electricity. It is a crucial step towards a more sustainable and resilient future for the country,” he said.

The government set an ambitious target of achieving 50 percent of renewable energy in total power generation by 2040 and started to pursue reforms to implement it, supported by this financing operation. The increased focus on RE is in parallel to slowing the expansion of coal-fired power generation capacity from 2026 onwards. Achieving these targets will require a significant increase in investments in solar and wind technologies and a strong policy environment conducive for investment in RE.

It also supports the introduction of new insurance products suitable for vulnerable smallholder farmers and strengthens the coverage and operations of the Philippine Crop Insurance Commission.

The aim is to help mitigate climaterelated disaster risks to the country’s budget and the farming sector. If properly designed and targeted, crop insurance can help stabilize farm income, reduce poverty, and provide a climate safety net for food producers.

By Alena Mae S. Flores

REPOWER Energy Development Corp., a subsidiary of Pure Energy Holdings Corp., said Wednesday it is developing a 200-megawatt wind farm in Quezon province.

“We are pleased to expand our energy portfolio beyond run-of-the-river hydropower plants as it would allow us to contribute more towards our nation’s sustainability goals,” REDC president and chief executive Eric Peter Roxas said.

“Our wind farms will be built within the vicinity of our hydropower plants.

written consent from GSIS.

STATE-RUN pension fund Government Service Insurance System and Philippine Plaza Holdings Inc., doing business under the name and style of Sofitel Philippine Plaza Manila, amended their lease contract that was originally signed in 1991.

The lease covers the prime land occupied by the luxury Sofitel Philippine Plaza Manila hotel. The amended agreement, which was initiated on June 26, 2016, is valid until June 26, 2041, ensuring the hotel’s ongoing operations in the Pasay City area.

GSIS said in a statement Wednesday that in an expansion from the initial agreement, the lease now encompasses the original building landsite and the complementary lots (Lots 19

By Darwin G. Amojelar

PT&T, a diversified telecommunications and information technology services provider, teamed up with NetLinkz, a leading Australian technology firm, to bring Starlink, SpaceX’s revolutionary satellite-based internet service to customers across the Philippines.

The strategic partnership aims to empower businesses in remote areas with stable, high-speed internet, unlocking and 41), reflecting the commitment of both parties to the hotel’s continuous growth and the flourishing local tourism sector. GSIS president and general manager Wick Veloso said the hotel’s success is intrinsically linked to GSIS as its income will be drawn from the hotel’s revenue.

“By safeguarding GSIS’s assets and generating income from these, we can assure our members and pensioners that their benefits will be provided when due,” Veloso said. Recognizing the integrity of the leased premises, the parties agreed to treat the entire area as one indivisible unit. All alterations or improvements to the premises now require prior endless possibilities in the digital world.

“We are thrilled to bring Starlink to the Philippines and offer our customers with the need for connectivity with a reliable internet solution,” said PT&T president and chief executive James Velasquez.

“Our partnership with Netlinkz allows us to provide high-speed internet access to areas where traditional broadband services are limited or unavailable,” he said. Customers in the Philippines have various purchasing options available to

The updated contract states that at the end of the lease period or in case of earlier cancellation, all permanent improvements introduced by PPHI on the building landsite and complementary lots will transfer to GSIS.

It also includes a dispute resolution clause, outlining a path towards resolution through negotiation, mediation or arbitration in accordance with the Philippine Dispute Resolution Center Inc. arbitration rules.

Veloso and PPHI president Esteban Peña Sy committed to upholding the terms and conditions of the contract and ensuring the continued success of the Sofitel Philippine Plaza Manila hotel. Julito G. Rada them for obtaining the Starlink kit, now including direct purchase from PT&T.

Once customers avail of the Starlink kit, they will have access to various monthly plans tailored for enterprise and maritime customers, each with different pricing options based on their specific requirements.

The plans will offer data caps ranging from 50 GB to 6 TB, and beyond the cap, customers will continue to enjoy unlimited throttled data. The monthly plans promise peak download speeds of up to 350 Mbps and upload speeds of up to 40 Mbps.

This will allow us to maximize synergies in our operations and logistics and tap into the transmission lines, switchyard, access roads and other infrastructure developments we own and are already built,” Roxas said.

The project will cover two wind energy service contracts in line with REDC’s mission to provide clean energy and uplift the living standards of rural and under-electrified communities.

It involves the Silang Maragondon wind farm which will cover 2,592 hectares of land and the Pandan Labayat wind farm which span 2,025 hectares.

The proposed grid connection for the projects will be the operational Biga Switchyard Station, which is connected to the National Grid Corporation of the Philippines.

The Biga substation is being utilized by three run-of-river hydropower plants that REDC operates in the area.

“We are proud to partner with PT&T to bring Starlink to the Philippines,” said NetLinkz managing director and chief executive James Tsiolis.

“This collaboration aligns with our mission to provide innovative and secure network solutions. We are excited to contribute to the digital transformation of the country, empowering Filipinos with advanced internet capabilities,” he said.