Was on our way home one day on the odd occasion that our son was picked up from school. In between that 10 kilometer Jeepney ride between his school and our home I noticed that there were 9 gasoline stations already plying their trade.
10 years ago, if I’m remembering this correctly, there were only about 5 gasoline stations offering up fuel to the long distance travellers heading to some far off province.
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Publicly listed Ayala Corp disclosed that they would enter into a joint veture with Sta. Clara Power Corp in order to develop hydro electric power plants around the country. This venture would be accomplished through their subsidiary, Michigan Power Inc. (MPI). Ayala Corp would have a 70% ownership in the venture with an infusion of P600 million.
Ayala Corp has been primarily known as a leading real estate developer and mall operator in the Philippines with their very successful investments in the Makati district. Unknown to most people is that they have also other successful investments in different facets of industry (car and electronics manufacturing to name a few)
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After announcing earlier this year that they were entering renewable energy production via the purchase of Northwind Power, another Ayala Corp subsidiary, Integrated Micro-Electronics, Inc(IMI), announced that it was expanding its Solar Panel production capacity.
According to the report, publicly listed IMI established IMI Energy Solutions in 2010 in Fremont, California to produce develop and prototype solar panels. Output made by IMI Energy Solutions will be mass produced by IMI. Plans are to produce it either in the Philippines or in another country.
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Canlaon Alco Green Industrial Corp (CAGIC) announced that they will put up a P5.192 Billion on a bioethanol processing plant in Bago, Negros Occidental.
The plant is projected to be operational by December 2012 and will produce 52.2 million liters of bioethanol per year. Aside from producing bioethanol for the transport sector in line with the biofuel law, the purified carbon dioxide by product of the plant will be sold to the local softdrink bottling companies.
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Publicly listed Ayala Corporation (Ayala Corp) disclosed to the Philippine Stock Exchange that they had acquired 50% of NorthWind Power Development Corp from Michigan Power Inc. NorthWind Power operates the already famous wind farms at Bangui Bay, Ilocos Norte. This acquisition also signals the entry of Ayala Corp into the power generation business.
Ayala Corp also recently went into a Joint Venture agreement with Mitsubishi Corp of Japan for a solar power project.
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Youil Ensys of South Korea announced through its local office, Youil Renewable Energy Corp, that they were planning to put up solar farms in Negros (30MW) and Bohol (10MW). The investment for the Solar Farm in Negros is expected to reach $120 Million while the one in Bohol will be $40 Million.
The catch however is that the country has to have a Feed-In Tariff scheme in place before they start constructing.
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