News Flash

October 10, 2015, Saturday
  • Duterte to wait until Oct. 15 before declaring whether or not he is running for president. about 1 hour ago |
  • Immigration agents nab a Chinese fugitive charged with economic crimes. about 1 hour ago |
  • Faulty electrical wiring caused the fire that burned a portion of UST’s Quadricentennial Pavilion on Friday morning. about 1 hour ago |
  • Makati Rep. Abby Binay to run for Makati Mayor if brother Junjun will be disqualified. about 1 hour ago |
  • Pacquiao silent on details of his senatorial bid. about 1 hour ago |
  • Pacquiao arrives from Qatar where he gave support to competing Filipino boxers. about 1 hour ago |
  • 3 suspects involved in the killing of a couple in Romblon arrested. about 1 hour ago |
  • OFW who fell from 3rd floor of building in Saudi Arabia to undergo surgery. about 1 hour ago |
  • OFW in Jeddah, Saudi Arabia falls from a building while running away from her employer. about 1 hour ago |
  • Duterte says if he shows up at Comelec on Thursday, that means he is running for president. about 1 hour ago |
  • Ayala Bridge in Manila to remain closed for the next 3 weekends. about 1 hour ago |
  • Ayala Bridge in Manila still closed to motorists due to repairs. about 1 hour ago |
  • Pikit & other towns in North Cotabato experience by power outage after bombs hit 2 NGCP towers. about 1 hour ago |
  • 2 NGCP steel towers in North Cotabato collapse after being bombed. about 1 hour ago |
  • 2,136 out of 3,866 pass the licensure examinations for mechanical engineers last month. about 1 hour ago |
  • Fmr. First Gentleman Mike Arroyo asks the Sandiganbayan to allow him to travel & stay in Japan & Hong Kong for 12 days. 17 hours ago |
  • LTFRB suspends the franchises for 30 units of Dagupan Bus. 17 hours ago |
  • Number of fatalities in fire that hit Leyte Prison and Penal Farm rises to 10. 17 hours ago |
  • Ombudsman has also issued a dismissal order against Masbate Gov. Rizalina Lanete. 18 hours ago |
  • Director General Joel Villanueva resigns from TESDA in view of his plan to join the senatorial race. 18 hours ago |
  • Binay’s camp says the Ombudsman’s dismissal order vs. Mayor Binay was done in haste. 18 hours ago |
  • Ombudsman Carpio-Morales says it is up to Comelec to decide whether or not to allow Mayor Binay to run for a 3rd term. 18 hours ago |
  • Ombudsman’s order includes Mayor Binay’s dismissal from service & perpetual disqualification from public office. 18 hours ago |
  • Ombudsman’s dismissal order for Mayor Binay is in connection with his plunder case over the alleged overpriced Makati City parking building. 18 hours ago |
  • Rep. Abby Binay says Mayor Binay is planning to file his COC next week & run for a third term. 18 hours ago |
  • Rep. Abby Binay says Mayor Binay can still appeal the Ombudsman’s dismissal order at the Court of Appeals. 18 hours ago |
  • Ombudsman cites grave misconduct & serious dishonesty as reasons for Makati Mayor Junjun Binay’s dismissal. 18 hours ago |
  • Ombudsman orders the dismissal of suspended Makati Mayor Junjun Binay. 18 hours ago |
  • The 5-day period for filing of the Certificates of Candidacy (COC) begins on Monday Oct. 12. 22 hours ago |
  • Comelec conducts a demonstration on how to properly file the Certificates of Candidacy (COC). 22 hours ago |
  • Fmr. SAF Chief Getulio Napenas laments no one is being charged for the death of 9 SAF commandos who attacked Marwan’s hut. 22 hours ago |
  • Ayala Bridge in Manila to be closed to motorists at 10 pm Friday. 22 hours ago |
  • Quezon City Mayor Herbert Bautista eyes a third term. 22 hours ago |
  • Jueteng whistleblower Sandra Cam wants to run for a senate seat. 22 hours ago |
  • OFW Party-list Rep. Seneres says he has a vice-presidential bet & a complete senatorial line-up. 22 hours ago |
  • OFW Party-list Rep. Roy Seneres hopes he won’t be seen as a nuisance candidate after he announced his pres’l bid. 22 hours ago |
  • 3 inmates bolt prison in Tabaco, Albay. 22 hours ago |
  • 9 inmates die in fire that broke out in Abuyog, Southern Leyte prison. 22 hours ago |
  • About 60 members from PH & U.S. Marine Corps take part in an amphibious landing exercise in Ternate, Cavite. 23 hours ago |
  • Sen. Honasan absent in Cebu City event where Binay announced the senator’s bid for the vice presidency. 23 hours ago |
  • Binay announced the ‘Binay-Honasan’ tandem at UNA’s political event in Cebu City. 23 hours ago |
  • Binay announces Sen. Gringo Honasan is his running mate in the 2016 elections. 23 hours ago |
  • Fire out declared at UST’s Quadricentennial Pavilion at 10:30 am on Friday. 23 hours ago |
  • Fire hits University of Santo Tomas’ new multi-purpose gymnasium ‘Quadricentennial Pavilion’ on Friday morning. 23 hours ago |
  • Body of man involved in Thursday’s hostage-taking in Manila has yet to be identified and claimed. 23 hours ago |
  • De Lima took her oath as LP member at Balay headquarters in Cubao, Quezon City. 23 hours ago |
  • Justice Sec. Leila de Lima takes oath as Liberal Party member. 23 hours ago |

Ayala to build 405-MW plant

By Alena Mae S. Flores | Aug. 01, 2013 at 12:01am
The power unit of Ayala Corp. said Wednesday it signed a joint venture agreement with a local energy company to build a 405-megawatt coal-fired power plant in Mindanao.

Ayala said wholly-owned subsidiary AC Energy Holdings Inc. signed a deal with Power Partners Ltd. Co.  to develop the thermal power plant in Kauswagan, Lanao del Norte.

Power Partners is a private limited partnership engaged in developing and owning power facilities in the Philippines since 2001.

Ayala did not disclose other details of the transaction. Power Partners is one of the project sponsors of the 600-megawatt Mariveles coal-fired power plant in Bataan, where Ayala owns a 17.1-percent stake through GNPower Mariveles Coal Plant Ltd.

The other sponsors of the Mariveles power plant are GN Power Ltd. of the US and Sithe Global Power LLC, a company owned by investors of The Blackstone Group.

The Ayala group is expanding its power generation portfolio to Mindanao, joining the long list of companies exploring opportunities in the island.

Ayala managing director and AC Energy Holdings Inc. president John Eric Francia said the group was “in very advanced stages of development work there.”

“Unfortunately. I cannot disclose at this point, but we do have advance projects in Mindanao,” Francia said.

He said the company would continue with its strategy of pursuing opportunities through joint ventures with established power players.

“We will not reinvent the wheel. There are a lot of projects there already that have been developed by organizations and if of you look at our behavior with our current partnerships whether it be with Sta. Clara, Trans-asia, GN Power, these are all established players that we partner with that will continue to be our strategy,” he said earlier.

Ayala signed a joint venture with Sta. Clara Power Corp. for hydropower projects while it is developing coal projects with Trans-Asia Oil and Energy Development Corp. and GN Power Ltd. The company is also a partner of Northwind Power Development Corp.

Ayala teamed up with Mitsubishi Corp. to form PhilNewEnergy Inc., which  is pursuing the construction of solar projects.

“It’s too late in the game to start from scratch so I think that’s an explicit strategy that we’ve taken to look who’s done a lot of the development work already and to partner with them,” Francia said.

Ayala is embarking on power projects around that country that can generate 1,000 MW of capacity in the next five years at a cost of $2.5 billion.
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