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Published May 6, 2021, 5:15 PM
Diversified conglomerate San Miguel Corporation posted a strong recover in the first quarter of 2021 with net income amounting to P17.2 billion, 15 times better than the P1.1 billion it earned in the same period last year.
In a statement, the firm said almost all its major businesses saw significant recoveries in the first three months, led by Petron Corporation and San Miguel Foods. Ginebra San Miguel Inc. and SMC Global Power likewise registered strong growth.
“We’re encouraged by these improvements, as they reflect that our businesses are definitely headed towards full recovery. ,” said SMC President and COO Ramon S. Ang.
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Metro Manila (CNN Philippines, May 7) San Miguel Corp. kept its momentum amid the coronavirus pandemic as it recorded a ₱17.2-billion net income for the first quarter of 2021.
In a statement, the conglomerate said this is 15 times better than the ₱1.1 billion it earned in the same period last year, as almost all of its major businesses saw significant recoveries in the first three months led by Petron Corp. and San Miguel Foods. We re encouraged by these improvements, as they reflect that our businesses are definitely headed towards full recovery. Despite the challenges ahead, we re determined to sustain our performance and continue taking on meaningful projects and investments that will help our economy recover, SMC President and CEO Ramon Ang said.
Published April 22, 2021, 8:00 AM
The power generation arm of San Miguel Corporation will cough up US$1.0 billion worth of investments for 31 new battery energy storage (BES) projects that it will be deploying in various sites nationwide.
The company, in a statement to the media, has emphasized that the BES facilities will have equivalent generation or rated capacity of 1,000 megawatts.
Four of 31 Battery Energy Storage System (BESS) facilities being put up by San Miguel Corporation’s power arm, SMC Global Power Holdings Corp., located in Masinloc Zambales; Malita, Davao; Maco, Davao de Oro, and Jasaan, Misamis Oriental. The BESS facilities are currently undergoing testing and commissioning. These facilities will have a combined rated capacity of over 1,000 megawatts and will stabilize and improve power quality for users nationwide. These will also pave the way for more viable use of renewable power by addressing the issue of intermittence.
BusinessWorld
April 22, 2021 | 12:08 am
BW FILE PHOTO
SAN MIGUEL Corp. (SMC), through its power arm SMC Global Power Holdings Corp., is spending more than $1 billion to build new battery energy storage facilities with a rated capacity of 1,000 megawatts (MW).
In a press release issued on Wednesday, SMC said that 31 new battery energy storage units are underway. The company said that some storage facilities are in the advanced stages of completion.
“Our ongoing investment into battery energy storage facilities will greatly benefit power consumers all over the country, because this will mean that even faraway provinces or areas can have the same stable and good quality power supply as everywhere else,” SMC President Ramon S. Ang was quoted as saying.