Category: Business Mirror

The Securities and Exchange Commission (SEC) has approved the rental pool program of Damosa Land Inc., the first securities issuer to successfully register under the streamlined guidelines on Securing and Expanding Capital in Real Estate Non-Traditional Securities or SEC RENT.

In its en banc meeting, the agency approved company’s registration statement covering 100 certificates of participation in the condotel project of TRYP by Wyndham Samal.

Valid for 20 years starting from the date of the operation, the certificates cover 94 standard class condotel units with an offer price of P50,000; four deluxe class units worth P75,000 each; and two suite class units with an offer price of P100,000 each. All units in TRYP by Wyndham Samal will be enrolled under a mandatory condotel rental pool program. Each unit will automatically be included in the rental pool upon purchase, allowing it to be marketed, rented and managed as hotel accommodation for hotel guests without transferring ownership.

The rental pool arrangement is expected to gross up to P5.2 million, which will be used to fund the company’s pre-operating expenses and to provide a buffer for the first three months of operations.

The project, located in Barangay Limao, Samal, Davao del Norte, is expected to be launched in the fourth quarter this year, with construction set to begin in the first quarter of 2026. The project is expected to be completed in the third quarter of 2028, with the opening scheduled in the fourth quarter of the same year, according to its latest timeline submitted to the SEC.

Implemented through SEC Memorandum Circular No. 12, Series of 2024, the SEC RENT streamlines the registration process for securities of real estate firms involved in selling or offering investment contracts through rental pool agreements.

Rental pool agreements involve deals where a property developer sells or offers units in real estate projects such as condominiums, hotels or resorts to the public. Under the deals, buyers contribute the units to a rental pool managed and operated by the company or a third-party operator. In turn, the buyers are entitled to receive a share in profits earned by renting out the units to third parties.

THE Department of Information and Communications Technology (DICT) is turning to blockchain as its weapon of choice against corruption, banking on the technology’s permanence to protect government transactions from tampering or erasure.

ICT Secretary Henry Aguda said blockchain’s strength lies in its design: data stored on the chain cannot be altered or deleted, creating a permanent, verifiable record of transactions.

Aguda described this feature as an ‘immutable ledger’ that would allow the public to trace everything from budget allocations to actual purchases, ensuring a single version of the truth.

‘The nice thing about it is it’s immutable. So if there [is] anything unusual in the database, even if you don’t see it now, you can still find it down the road,’ he said. ‘You have an immutable ledger, meaning it will forever be there. It’s a single version of the truth.’

The DICT chief said this digital safeguard comes at a critical moment, as the government grapples with revelations that some Department of Public Works and Highways (DPWH) employees tampered with or wiped out project records that could have implicated them in the multibillion-peso flood control corruption scandal.

The Independent Commission on Infrastructure (ICI) recently disclosed that some files had been destroyed, complicating efforts to establish accountability for projects that were either substandard or never built at all.

‘[With blockchain] the data is not stored in one place, it’s distributed. It’s not like we can just delete or destroy the server,’ Aguda said.

At the same event, FPJ Panday Bayanihan Party-list Rep. Brian Llamanzares, vice chair of the House Committee on Appropriations, pushed House Bill 4489, or the proposed Blockchain for Government Transparency Act.

The House measure seeks to mandate that the entire national budget be placed on blockchain, ensuring citizens can independently verify every peso allocated, released, and spent.

‘When we’re talking about blockchain and how it works, we want all government transactions to be verified on the chain. What we’re doing is putting digital infrastructure in the Philippines that allows people to view these through a public portal,’ Llamazares said.

Marc Boiron, the CEO of blockchain company Polygon Labs, noted that ‘putting a national budget on-chain shows a bold commitment to transparency and accountability.’

‘This is exactly the point of blockchain technology, and it positions the Philippines as a leader that others will want to follow,’ he said.

First Gen Corp. (FGen) and the Manila Electric Co. (Meralco) are currently in talks for another extension of their gas deal that will eventually pave the way for the continued supply of electricity being sourced from FGen’s gas plant in Batangas.

‘You know that the Sta. Rita was extended up to January, but we’re hoping that will also be extended beyond. But that’s work in progress,’ said First Gen President Francis Giles Puno.

The Energy Regulatory Commission (ERC) had granted a five-month extension, or until January 2026, of their power purchase agreement (PPA), effectively averting the shutdown of the 1,100-megawatt (MW) Sta. Rita gas power plant.

Puno, however, could not yet say how long First Gen and Meralco want the gas deal to remain in effect. ‘That’s currently in negotiation.’

Meralco utility economics head Lawrence Fernandez had said that during this period both parties will continue negotiations on the PPA extension and will have to go back to the ERC after the negotiation.

Without the extension, First Gen would likely be constrained to shut down the Sta. Rita plant, the biggest among the four-gas fired power plants it operates in its Clean Energy Complex in Batangas. However, the extension may result in higher generation rates, the ERC noted in its previous decision.

‘Although the motion evidently impacts Meralco’s generation charge.there exist other equally compelling and urgent reasons that justify the proposed extension,’ the ERC said.

‘The issue transcends mere rate concerns and becomes a matter of energy security. Such a scenario could lead to widespread blackouts, with repercussions extending beyond potential increases in Meralco’s generation charge. Ultimately, the resultant blackouts could severely impact the national economy. In the end, this is what the commission is asked to reconsider and rule upon.’

These reasons, added the ERC, are anchored in policy considerations, such as ensuring grid and supply security and reliability, which fall more appropriately within the purview of the Department of Energy (DOE).

The DOE, for its part, told the ERC that the interim extension will not violate any DOE policy, particularly the competitive selection process (CSP) requirement because the Sta. Rita PPA was approved pre-Electric Power Industry Reform Act (Epira). Hence, the PPA is beyond any CSP policies issued by the DOE under Epira.

First Gen’s PPA with Meralco involving the 420-MW San Gabriel gas plant already expired last year while a similar agreement involving the 500MW San Lorenzo gas plant will expire in 2027.

Last August, First Gen said it recorded a slight increase in its net income at $151 million (P8.6 billion) in January to June from $150 million (P8.4 billion) a year ago due to lower revenues. Revenues stood at $1.213 billion (P69.3 billion), down 5 percent from $1.278 billion (P72.1 billion) because of lower electricity volumes, particularly in the gas platform, sold during the period.

The natural gas portfolio accounted for 66 percent of the company’s total consolidated revenues, while 30 percent came from the geothermal, wind and solar plants of Energy Development Corp. (EDC). The balance of 4 percent comes from the company’s hydroelectric power plants.

Meanwhile, Meralco reported last July that it will close the year with about P50 billion in consolidated core net income (CCNI), higher than last year’s P45.1 billion, after posting a CCNI of P25.5 billion in the first half.

In the first half, Meralco’s CCNI stood at P25.5 billion from P23.2 billion in the same period last year, with the distribution business accounting for the largest share of 54 percent or P13.7 billion. It also realized significant contribution from the growing power generation business with its share now at 37 percent to P9.4 billion of the CCNI.

The retail electricity supply and non-electricity businesses, meanwhile, brought in a combined P2.4 billion or 9 percent.

THE lawyers of former President Rodrigo Roa Duterte are asking the Pre-Trial Chamber of the International Criminal Court (ICC) to first determine whether his deteriorating health affects his ability to stand trial.

‘Mr. Duterte’s cognitive impairment is sufficient to warrant litigation of the matter prior to the holding of the confirmation hearing,’ said his counsel, international lawyer Nicholas Kaufman. ‘In light of the aforementioned, and given their relevance, the Defense hereby submits the present medical information into the case record.’

In a public redacted filing dated September 29, 2025, Kaufman submitted new medical records to support his claim that Duterte is suffering from cognitive impairment.

The submission is part of the ongoing case which investigates alleged crimes committed during Duterte’s presidency, particularly in connection with his controversial war on drugs.

The defense said two separate medical evaluations-one by a professional appointed by the ICC Detention Centre and another by a defense-proposed expert-corroborate the impairment and raise serious concerns about Duterte’s legal competency. The legal team also requested a status conference before the court’s judicial recess to address the matter urgently.

However, the prosecution strongly opposed the defense’s move, arguing that the medical submissions are irrelevant to the Chamber’s determination on interim release. In its own filing, also dated September 29, the Office of the Prosecutor said Duterte remains a flight risk, could interfere with proceedings, and may commit further crimes if released.

The Prosecution criticized the Defense for filing the medical challenge five months after Duterte’s initial appearance, and after key procedural deadlines had passed. It noted that during those months, Duterte was able to instruct his legal team to file jurisdictional challenges, request the disqualification of judges, and negotiate conditions for interim release-suggesting he was mentally competent enough to participate in legal strategy.

‘The Defense has unnecessarily delayed the proceedings,’ the Prosecution said, adding that the Chamber had already made clear that any postponement of the confirmation hearing would be ‘limited to the time strictly necessary’ to assess Duterte’s fitness.

The public versions of both filings redact specific medical details and internal negotiations.

Duterte, who served as president from 2016 to 2022, faces accusations of crimes against humanity for thousands of deaths linked to his anti-drug campaign. He has consistently denied wrongdoing and previously dismissed the ICC’s jurisdiction over the Philippines.

The ICC has yet to issue a ruling on the Defense’s latest request.

THE National Collegiate Athletic Association (NCAA) hopes to pick up from where it left off last year as it ushers its 101st season on Wednesday beginning with the centerpiece seniors basketball at the Smart Araneta Coliseum.

Teams which played in last year’s Final Four will have a rematch right away on opening day as defending men’s champion and host school Mapua University battles Lyceum of the Philippines University and College of St. Benilde clashes with San Beda University.

The Cardinals-Pirates tussle is set at 2:30 p.m. followed by the Blazers-Red Lions match at 5 p.m.

An elaborate opening ceremony starting at 12 noon precedes the doubleheader with performances to be provided by songstress Thea Astley, Hannah Precillas, Naya Ambi and Aicelle Santos.

Philippine Sports Commission chairman Patrick ‘Pato’ Gregorio will be the guest speaker when the country’s grand old collegiate league ushers its next 100 years.

‘Easy to recall, Season 101, and we’ll open on October 1. 10-1. So things like that. And with this year’s theme ‘Building Greatness,’ I’m sure for the past 100 years of NCAA, you’ve seen student-athletes rose to the elite level,’ Jose Rizal University athletic director Paul Supan said in Tuesday’s Philippine Sportswriters Association Forum at the Rizal Memorial Sports Complex.

‘So in the next 100 years, in coordination with the PSC and member schools, we hope to sustain our contribution to the national training pool.’

Emilio Aguinaldo College Vice President for Administration Dr. Lorenzo Lorenzo appeared with Supan in the session presented by San Miguel Corp., PSC, Philippine Olympic Committee, Milo, Smart/PLDT and the country’s 24/7 sports app ArenaPlus.

In line with the NCAA’s goal of providing the national training pool with potential members, Lorenzo said the collegiate league is introducing the Olympic sports of gymnastics, weightlifting, boxing and golf in this year’s calendar.

All four sports will initially be demonstration in nature to be played in the second semester.

‘The NCAA and PSC will form a partnership in terms of training and developing these grassroots athletes,’ Lorenzo said.

Supan said under NCAA rules, a demonstration sport that has been played for three straight seasons can be elevated to regular status subject to certain conditions.

Weightlifting (Hidilyn Diaz-Naranjo) and gymnastics (Carlos Yulo) provided the three gold medals won by the country in the Olympics.

New format will also be adopted in basketball, whose games will be played in

The NCAA will stage the basketball games in its original home-the Rizal Memorial Coliseum.

‘This is our home and most of us will acknowledge, this is where the NCAA started,’ said Supan, noting the juniors basketball that kicks off on Thursday will be played at the Ninoy Aquino Stadium between Mapua and Lyceum and St. Benilde and San Beda.

Other sports to be played at the Rizal Memorial Sports Complex are taekwondo, swimming, lawn tennis and hopefully, football, while track and field will be staged at the PhilSports Complex in Pasig City.

For Filipinos, education is more than just a personal goal; it’s the key to a better future and a means to uplift an entire family. However, for those who live in remote areas, work, or balance family responsibilities, attending a traditional college may not be within reach.

Fortunately, fully online programs like Mapúa University’s ÚOx (Ubiquitous Online Experience) are changing the narrative, providing quality education that is responsive to the current realities of Filipino learners.

ÚOx leads digital transformation

A product of the university’s efforts to lead the educational sector’s digital transformation, Mapúa ÚOx was launched in 2018 with its first fully online master’s program in industrial engineering. This was followed by various master’s degrees in engineering and information technology. In 2021, ÚOx began offering undergraduate programs in Industrial Engineering, Electrical Engineering, Electronics Engineering, Computer Engineering, Computer Science, and Information Technology. Since then, ÚOx has helped non-traditional students in pursuing their dreams of earning a college or postgraduate degree.

Mapúa’s Associate Dean for the Institute for Digital Learning, Dr. Ardvin Kester S. Ong stated that ÚOx’s courses, methodology, educational tools, and curriculum uphold the university’s century-old tradition of high-caliber education, despite its online asynchronous setup.

‘Parents can be fully assured that ÚOx programs are built on the same foundation of academic rigor and excellence that defines Mapúa University. ÚOx programs comply with and even exceed national standards set by the Commission on Higher Education. Our learning materials have also been meticulously crafted and certified by Quality Matters (QM), the global gold standard for online course design,’ said Dr. Ong.

Making top-tier academic programs accessible online democratizes education, as it removes barriers such as distance, time, long commutes, and expenses such as allowances, fares, and uniforms. It gives students the autonomy to steer their learning journey while managing other personal priorities.

ÚOx bridges distances

Santthea Maund E. Marasigan, a third-year Computer Engineering student from Occidental Mindoro, no longer has to choose between her health and her education. Previously struggling with a demanding commute, homesickness, and health issues, she found that the fully online program at ÚOx bridged the distance for her. Now, Santthea has the time and energy to balance her studies, engage in student organizations, and take on additional microcredentials without the strain of extensive travel.

The program also made it possible for Kuwait-based Keithlyn Cassandra Dullas Cajucom to pursue her degree from thousands of miles away. Now in her third year of Electronics Engineering, Keith found the asynchronous lectures especially beneficial since she could dedicate extra time to challenging subjects.

ÚOx balances educational goals with family priorities

For third-year Electronics Engineering student Danielle Ann D. Acorda, the digital program was the ideal solution, allowing her to balance her studies and family commitments. Although focused on completing her second degree, Dane also needed to have ample time for her family and household tasks, which the fully online course provided.

Fourth-year Industrial Engineering student, Klarisse Nicole N. Savino, also shared this sentiment.

‘ÚOx gave me the balance I needed: the flexibility to stay close to home while supporting my family, without putting my goals on hold. It also gave me space to explore other sides of myself. I had time to take on personal projects, join competitions, and even pursue creative passions that keep me grounded outside of academics,’ said Klarisse.

ÚOx gives students the freedom to wear different hats

The digital-first program also paves the way for students to juggle different roles, as in the case of third-year Information Technology (IT) student Fatima. She is her dad’s primary caregiver, oversees housework, tutors, and is a virtual assistant in training. Through the self-paced modules, she can schedule her studies around her tasks without feeling overwhelmed.

ÚOx means affordable and accessible learning

The ÚOx program’s flexibility and affordability are transforming students’ lives. For IT student Eric Vincent Bahian, the program has eliminated the high costs and time wasted on daily commutes, allowing him to save money and dedicate more time to upskilling and hobbies.

Similarly, Dino Alfred Timbol, another IT student, uses the flexible structure to learn additional programming languages and focus on personal self-improvement, proving that the online model allows students to build both their academic and professional futures.

While these testimonies show that ÚOx has a definite home-court advantage, aspiring fully online students should be self-motivated, disciplined, resilient, and digitally literate to truly thrive.

Digital education offers both freedom and responsibility. Unlike traditional schooling, which has fixed schedules, in-person instructors, and classmates who remind peers to study, fully online programs place the responsibility on students to manage their time and learning. They are expected to utilize productivity tools, online consultations, collaborative projects, and e-resources as needed. This approach trains them to become resilient, self-motivated individuals with workplace-ready skills.

‘That’s what makes ÚOx powerful: it doesn’t just prepare you for work, it prepares you for life. It teaches you to manage your time, juggle responsibilities, and stay disciplined while still protecting the things that matter most. ÚOx doesn’t just teach you to study independently-it teaches you to thrive independently. And that kind of strength stays with you for life,’ added Klarisse.

EXTENDING the period of imposition of the ?16 tariff per 40-kilo bag of imported blended cement will only jack up prices of local cement, which could undermine competition and burden Filipino consumers, according to consumer group United Filipino Consumers and Commuters (UFCC).

‘The Department Order 25-01 was signed by the Secretary on February 20, 2025. It will take effect for 200 days, so if we count the 200 days, any moment now the 6-7 months or 200 days period will end. So now, we hear that the cartels have an appeal to continue this,’ UFCC President Rodolfo B. Javellana Jr. told reporters in Filipino during the consumer group’s protest in front of the building of the Department of Trade and Industry (DTI) in Makati City.

‘What will happen to these cartels? Of course, the price will increase. They will dictate the price more. This was the situation in 2016. The price was really high,’ added Javellana.

Asked how many workers would be affected by the tariffs imposed on imported cement, the head of the consumer group said: ‘We think there are around 5,000 mothers and fathers, the direct ones, who will be affected, who will lose their livelihood.’

However, he noted that this number excludes the cement contractors, delivery men, among others.

‘So please, Secretary Roque, we appeal to you, stop this. Let’s not extend it to 1,000 days or 2,000 days or 5,000 days. Let’s stop the P16 [tariff]. So that we can boost competition and consumers will have a chance to pick whatever cement brand they want,’ stressed Javellana, speaking in Filipino.

In a letter sent by the consumer group to Trade and Industry Secretary Cristina A. Roque on September 29, 2025, Javellana said: ‘We write to express our concerns regarding the imposition of emergency tariffs on imported cement for the next three years, estimated to come to P400 per metric ton or P16 per 40-kilo bag of blended cement and Portland cement.’

‘We have noted that this is the second letter we have sent to your office, and we hope that the first letter has not fallen on deaf ears,’ the letter of the UFCC chief read.

The consumer group said it believes that DTI has a ‘johnny-come-lately’ attitude towards this issue, saying the agency is claiming the measure was intended to protect local cement producers, which UFCC notes are ‘bigtime producers themselves and are not likely to declare bankruptcy anytime soon.’

‘But clearly action to protect local production should have been made earlier, at the time when change in the tax regime is not likely to also create changes in the price of other basic commodities,’ Javellana pointed out.

THE Anti-Money Laundering Council (AMLC) received a new freeze order from the Court of Appeals (CA) bringing the total value of the frozen assets to P2.9 billion.

In a statement, the new freeze order covered a total of 836 bank accounts, 12 e-wallet accounts, 24 insurance policies, 81 motor vehicles and 12 real estate properties.

With the latest freeze order, the AMLC through the CA has frozen a total of 1,563 bank account; 54 insurance policies; 154 motor vehicles; and 30 real estate properties. The latest freeze order is the first time the AMLC included electronic wallets.

‘By freezing a wide range of assets-such as bank accounts, e-wallets, vehicles, and properties-the AMLC is disrupting the financial channels used in corrupt activities,’ said AMLC Executive Director Atty. Matthew M. David.

‘Our goal is straightforward: prevent stolen public funds from being dissipated and misused, recover them for the National Government, and ensure that those involved in money laundering are held accountable,’ he added.

The AMLC said it remains committed to transparency and accountability and is working closely with other government agencies to ensure that public funds are protected and properly used.

Earlier, David said AMLC’s petition cited corruption-related offenses, such as violation of the Anti-Graft and Corrupt Practices Act and malversation, according to David.

Under the freeze order, banks will now look into their systems and determine the amounts stored in the bank accounts, which will then be reported to the AMLC, David said.

Moreover, the freeze order is a step toward the filing of appropriate civil and criminal cases, including the retrieval of any funds moved before the freeze, against those found to have laundered illicit proceeds, David added.

The freeze order will only be lifted if the owners of the bank accounts will file a motion to lift the effects of the freeze order over their accounts or assets.

GLOBAL uncertainties and the ‘broad impacts’ of corruption could further weaken the country’s economic growth this year and next year, according to the Asian Development Bank (ADB).

In its Asian Development Outlook (ADO) for September, ADB said it now expects the country’s GDP growth to slow to 5.7 percent in 2026 from the 5.8 percent estimate for 2026 it made in July 2025. The forecast for this year pegged at 5.6 percent was the same estimate in July but was slower than the 6 percent estimate it released in April.

ADB Country Director for the Philippines Andrew Jeffries said the global uncertainties stemmed from the impact of higher US tariffs on the economy. However, while ADB did not yet account for its impact, the controversy surrounding flood control projects could further undermine economic growth.

‘We didn’t see a reason to reduce GDP projections due to that issue [flood control], but it’s certainly a heightened risk; between now and our December update there may be more quantifiable data available that may alter our projections,’ Jeffries said during a media briefing.

Higher United States tariffs imposed on various commodities worldwide have created global policy uncertainty which has slowed down growth, particularly in advanced economies.

The impact of higher tariffs, which the Philippines has not escaped, and the impact on advanced economies could also dim the economic prospects of the country.

The United States slapped a tariff of 19 percent on all Philippine goods entering the American market beginning in August 2025. This new rate was a result of negotiations between Washington and Manila which occurred in July.

Nonetheless, ADB said, the impact of these uncertainties may be cushioned by the country’s strong domestic demand given the slowdown in inflation. The increase in commodity prices remained below the 2 to 4 percent target set by the Bangko Sentral ng Pilipinas (BSP).

ADB projected that inflation could average 1.8 percent this year and pick up to 3 percent next year. Both forecasts are within the inflation target of 2 to 4 percent set by the BSP.

The benign inflation environment allowed the BSP to continue reducing key policy rates. In the last Monetary Board meeting, the central bank reduced the Target Reverse Repurchase rate by 25 basis points to 5 percent in what BSP Governor Eli Remolona Jr. said was the ‘Goldilocks’ rate. Officials said more rate cuts could be implemented by the end of the year.

With the slowdown in inflation, ADB Senior Economics Officer Teresa Mendoza said household spending, one of the pillars of domestic demand, has shown resilience this year.

Mendoza noted that while there was an observed increase in the purchase of basic items, Filipino households also increased their spending on non-essentials such as domestic travel and recreation.

Earlier, ANZ Research said Filipinos swiping their credit cards and obtaining loans against their salaries are helping boost consumption spending in the country but these are deemed ‘unhealthy’ practices.

In its quarterly brief, ANZ Research noted that domestic demand has been weak in the region, except for the Philippines, which is seeing an uptick in private consumption as well as inflow of new consumption.

ANZ Research said private consumption in the country, however, was driven by credit card spending and loans against salaries. These borrowings were not being spent on asset creationMeanwhile, ADB said developing Asia’s growth forecasts were also reduced to 4.8 percent and 4.5 percent in 2025 and 2026 respectively.

The ADB cited risks that could bring growth down such as tariff and trade uncertainty, financial market volatility, geopolitical tensions in the Middle East and Ukraine, and property market fragility in the People’s Republic of China which could affect other countries.

Gigasol 1 Inc., a subsidiary of ACEN Corp., wants to increase the capacity of its solar power facility in Zambales to 225.909-megawatt peak (MWp) from 95 MWp for P13.39 billion.

The proposed expansion project will involve installation of PV modules, inverters, and main switchyard in Barangay Burgos, Botohan. Testing and commissioning of the solar project could happen in September 2027, with commercial operations expected to start by December 2027.

‘The Gigasol1 solar power plant project aims to achieve sustainable development and supply electricity to the Luzon grid to address the expected lack of supply and increasing demand for power.

Aside from employment opportunities that the project presents, the project intends to construct a means to harness clean and renewable energy for Luzon,’ the company said in a filing with the Environmental Management Bureau.

Luzon is growing at a fast pace, resulting in a projected shortfall in generating capacity, thereby creating an attractive opportunity for solar development in Zambales, added the company.

The expansion also includes the development of a 14-kilometer access road traversing barangays Poonbato and Burgos, which will support the expanded operations of the solar facility.

Gigasol1 said it will draw its expertise from previous projects in selecting technology providers and new developments in the solar technology implemented in the country in recent years.

Last August, ACEN reported that its consolidated net income declined by 88 percent year-on-year to P763 million mainly due to a P2.7-billion impairment relating to the relating to the Lac Hoa and Hoa Dong wind farms in Vietnam.

Excluding this one-off booking and the P1.35-billion valuation gain in 2024, net income fell 24 percent over the same period, due to depressed Wholesale Electricity Spot Market prices and increased depreciation effects.

‘Despite these headwinds, attributable renewables output grew 9 percent year-on-year to 3,228 GWh [gigawatt hours], driven by new contributions from international plants.’

Last December, the company said its capital expenditures (capex) for this year could increase to P70 billion from P50 billion in 2024.

‘We are forecasting P50 billion in capex across all geographies for fiscal year 2024. In 2025, we expect to spend roughly P70 billion,’ said ACEN President and CEO Eric Francia. The amount will be used to achieve its goal of having 20 gigawatts (GW) of renewable energy capacity by 2030.