It’s been more or less 5 days since I post an article in here. While browsing the internet, I have read the news regarding the Philippine Stock Exchange's (PSE) who are expecting more offering coming from energy sector.
Some companies like Aboitiz Power Corp., Energy Development Corp., PetroEnergy Resources Corp., and Trans-Asia Oil and Energy Development Corp. which are listed on the local bourse (bourse means stock exchange) have interests in the renewable energy industry.
There is a reason why PSE were expecting at least one energy/renewable company that would go public this year. This is due to last' week happening, also... at PSE. It approved new rules easing the listing process for the energy industry: new petroleum and renewable energy firms seeking to list on the local bourse are no longer required disclosing one-year operating histories.
According to the report from Business World Online,
This new rule will also apply to existing firms intending to engage in additional capital-raising...
... Strong investor interest in renewable energy ventures should also persuade firms to raise capital via a public offering... The investing public wants to invest, but the question is: are firms ready? - Energy Secretary Jose Rene D. Almendras.”
This is good news because if more renewable energy company goes public, more capital will flow on the companies which means more money will be use on the development of renewable energy projects. More importantly it will hasten the energy department capacity which is seeking to more than double the country’s renewable energy capacity to 15,263 megawatts (MW) from 5,369 MW by 2030.
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