استمتع بـUnlimited مع Magzter GOLD
احصل على وصول غير محدود إلى أكثر من 9000 مجلة وصحيفة وقصة مميزة مقابل
يحاول ذهب - حر
Solar Philippines faces P24-B penalties over terminated RE contracts
January 14, 2026
|Business World Philippines
SOLAR PHILIPPINES Power Project Holdings, Inc. is facing P24 billion in fines for its failure to deliver nearly 12,000 megawatts (MW) of renewable energy (RE) over the last two years, according to the Department of Energy (DoE).
"Out of the 17,904 MW of terminated contracts for 2025 and 2024... Solar Philippines would be 11,427 MW. That's more or less equivalent to 64% of the terminated contracts," Energy Secretary Sharon S. Garin said in a press chat on Tuesday.
Ms. Garin said the DoE terminated 33 service contracts held by Solar Philippines, a company founded by businessman-turned-politician Rep. Leandro L. Leviste, due to project delays.
These service contracts could have supplied 11,427.83 MW of capacity to the grid.
The DoE said it seeks to collect around P24 billion in penalties from Solar Philippines which covers contractual obligations, performance bonds and financial obligations arising from the revoked contracts.
"We have consistently sent notices even show-cause orders request for them to renew their bonds. We have not received any response from the company," she said.
Sought for comment, Mr. Leviste has yet to respond as of press time.
The DoE said it has recorded nearly 18,000 MW worth of potential capacity from 163 terminated and relinquished service contracts.
هذه القصة من طبعة January 14, 2026 من Business World Philippines.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
هل أنت مشترك بالفعل؟ تسجيل الدخول
المزيد من القصص من Business World Philippines
Business World Philippines
No permit, no charger
I went to the Legazpi CarPark in Makati recently and saw its electric vehicle charging bays.
5 mins
May 21, 2026
Business World Philippines
SEC revokes Mount Peak registration, issues advisory on unauthorized MocaMoca-linked platforms
THE SECURITIES and Exchange Commission (SEC) said it had revoked the broker-dealer registration of Mount Peak Securities, Inc. over alleged regulatory violations and deficiencies identified during an investigation, while separately warning the public against online lending platforms allegedly misrepresenting themselves as affiliated with the “MocaMoca” lending brand.
2 mins
May 21, 2026
Business World Philippines
Modest DPWH budget request for 2027 signals flagship-project focus as gov’t prepares to exit
THE Department of Public Works and Highways (DPWH) said on Wednesday it is seeking about P215 billion in funding for 2027, with P200 billion needed to sustain ongoing flagship infrastructure projects.
1 min
May 21, 2026
Business World Philippines
PHL’s much-reduced GOCC lineup still enmeshed in strategic sectors — OECD
THE PHILIPPINES has seen a sharp decline in the number of its state-owned enterprises (SOEs) over the past decade, though remaining government firms continue to control strategic areas of the economy, according to a report by the Organisation for Economic Co-operation and Development (OECD).
1 min
May 21, 2026
Business World Philippines
ADB urges PHL to maximize PPPs
THE PHILIPPINE government should maximize public-private partnerships (PPPs) to help narrow the country’s infrastructure gap while easing fiscal pressure from rising debt levels, the Asian Development Bank (ADB) said.
4 mins
May 21, 2026
Business World Philippines
ERC yet to decide on extension of GEA-All suspension
ELECTRICITY CONSUMERS may face higher power costs, as the Energy Regulatory Commission (ERC) has yet to decide whether to extend the suspension of the green energy auction allowance (GEA-All) collection.
2 mins
May 21, 2026
Business World Philippines
El Niño, rising costs to weigh on rice production
Soaring fuel and fertilizer costs linked to the Middle East conflict, coupled with drier-than-usual conditions, are putting increasing pressure on domestic rice production and threatening the Philippines’ food security, according to the International Rice Research Institute (IRRI).
2 mins
May 21, 2026
Business World Philippines
Global bond sell-off threatens turmoil in PHL, Indonesia
THREE OF ASIA’S most vulnerable economies are showing rising strains as their central banks come under pressure to tighten policy even as the economic hit from the Iran war oil shock deepens.
3 mins
May 21, 2026
Business World Philippines
Incoming US envoy, PHL ambassador discuss economic cooperation
THE INCOMING US ambassador to the Philippines and Manila’s top envoy in Washington discussed expanding economic cooperation and strategic industries ahead of a year marked by deeper bilateral engagement and major joint infrastructure initiatives.
2 mins
May 21, 2026
Business World Philippines
PAGEONE Media accredited to cover 79th Festival de Cannes
PAGEONE Media has been officially accredited by the prestigious Festival de Cannes, granting the organization official press access to the 79th edition of the world-renowned film festival, which will take place from May 12-23 in Cannes, France.
1 mins
May 21, 2026
Listen
Translate
Change font size