News Flash

August 04, 2015, Tuesday
  • Sen. Trillanes cites security risk as primary reason why his witnesses in bribery charge vs. 2 CA justices won’t be able to testify. 2 hours ago |
  • Sen. Trillanes says his witnesses in bribery charge vs. CA justices won’t be able to appear before the CA hearing. 2 hours ago |
  • Sen. Trillanes says he will appear before CA hearing on Aug. 14 to explain his bribery charge vs. 2 CA justices. 2 hours ago |
  • Trillanes ordered to appear at CA hearing on Aug. 14 at 2 pm & explain why he shouldn’t be cited for contempt for bribery allegations. 2 hours ago |
  • CA tells Sen. Trillanes to explain his allegation that 2 CA justices got P 25M each in bribes to stop Makati Mayor Binay’s suspension. 2 hours ago |
  • DMCI tells Supreme Court that Torre de Manila is outside the boundary of Rizal Park. 2 hours ago |
  • DMCI tells Supreme Court that it followed all ordinances, rules & guidelines in building Torre de Manila. 2 hours ago |
  • Comelec Commissioner Christian Lim says the poll body can adjust its calendar of activities & extend campaign period when there is election. 2 hours ago |
  • LTFRB sues 2 fixers who had long been loitering in the agency’s vicinity & offering fake franchise to applicants. 2 hours ago |
  • Sen. Chiz Escudero says Comelec should castigate candidates abusing election rules instead of extending the campaign period. 2 hours ago |
  • Sen. Jinggoy Estrada has been experiencing light-headedness and acid reflux. 2 hours ago |
  • Sen. Jinggoy Estrada will undergo medical check up at Cardinal Santos Medical Center from 6 pm Tuesday until Thursday. 2 hours ago |
  • Sandiganbayan grants Sen. Jinggoy Estrada’s request for a medical check up at Cardinal Santos Medical Center in San Juan City. 2 hours ago |
  • PAGASA says frequent heavy rains in the afternoon in Metro Manila are just due to thunderstorms. 2 hours ago |
  • PAGASA says there is no weather disturbance currently affecting Metro Manila. 2 hours ago |
  • Typhoon ‘Soudelor’ is forecast to move west northwest at 20 kph. 2 hours ago |
  • Typhoon ‘Soudelor’ was located 1,770 kilometers east of Luzon at 2 pm on Tuesday. 2 hours ago |
  • Typhoon ‘Soudelor’ outside PAR has gustiness of up to 245 kph. 2 hours ago |
  • Typhoon ‘Soudelor’ outside PAR carries maximum sustained winds of up to 215 kph near the center. 2 hours ago |
  • Signal Number 3 may be raised over Cagayan when Typhoon ‘Soudelor’ enters PAR on Wednesday morning. 2 hours ago |
  • Batanes may experience Signal Number 4 when Typhoon ‘Soudelor’ (with local name ‘Hanna’) enters PAR on Wednesday morning. 3 hours ago |
  • Batangas Gov. Vilma Santos & Camsur Rep. Leni Robredo attend Liberal Party meeting in San Juan today with Mar Roxas. 3 hours ago |
  • Batangas Gov. Vilma Santos & Camsur Rep. Leni Robredo say no one has asked them to run as Roxas’ vice pres’l bet. 3 hours ago |
  • Batangas Gov. Vilma Santos says she may run for Congress but she has not made up her mind. 3 hours ago |
  • Batangas Gov. Vilma Santos says she is not eyeing the vice presidency. 3 hours ago |
  • Camsur Rep. Leni Robredo says she hopes Sen. Grace Poe will agree to become Roxas’ runningmate. 3 hours ago |
  • Camsur Rep. Leni Robredo says if ever she will seek a higher post, it may be the senate. 3 hours ago |
  • Camsur Rep. Leni Robredo says she has no plans of running for vice president. 3 hours ago |
  • Pampanga to experience power interruptions on Thursday. 8 hours ago |
  • Sen. Jinggoy Estrada says Binay’s ‘True State of the Nation’ or ‘TSONA’ reflects the real performance of the Aquino gov’t. 8 hours ago |
  • De Lima says DOJ has no evidence that will pin down House members to the alleged BBL payoff. 8 hours ago |
  • House Sgt. At Arms Radovan says their CCTVs store only 5 days worth of videos before these are automatically erased by the system. 8 hours ago |
  • House Sgt. At Arms Nicasio Radovan says CCTVs in Batasan Complex have no recording of alleged BBL payoff last May 25, 26 & 27. 8 hours ago |
  • Sen. Alan Peter Cayetano says Binay should release his ‘true SALN’ instead of delivering a counter-SONA. 8 hours ago |
  • DOTC Sec. Abaya hits back at Binay & says the VP does not understand the root cause of the MRT problem. 8 hours ago |
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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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