The Department of Energy (DOE) has terminated its 2026 coal bid round covering three areas with established reserves, including coal blocks on Semirara Island, as it reviews the rules for awarding development and production contracts.
A key official of First Gen Corp. has dispelled the notion that coal is a cheap and reliable source of energy, citing its volatile pricing in recent years.
BDO Unibank Inc. president Nestor Tan is not setting a rigid deadline to transition away from coal power financing, emphasizing that energy security is the priority, in contrast with other major banks that will stop lending to coal projects within the next decade.