More renewable energy projects coming on stream for PetroEnergy

MANILA, Philippines — Yuchengco-led PetroEnergy Resources Corp. (PERC) is revving up its growth with the development and energization of seven new renewable energy (RE) projects.

PERC chairman Helen Dee and PERC president Milagros Reyes said they would go “full throttle” with their upcoming solar and wind power projects across the country.

“Our target is to put online the 27-MWdc (megawatt direct current) Dagohoy solar power project (DSPP) in Bohol by November this year,” they said in a joint statement.

PERC unit PetroGreen Energy Corp. (PGEC) borrowed P834 million from the Yuchengco family’s banking arm, Rizal Commercial Banking Corp., in March to fast-track the construction of the DSPP.

Another project coming into PERC’s portfolio is the 25-MWdc Bugallon solar power project (BSPP) in Pangasinan, which secured environmental permits and local government clearances last year to start the development.

The BSPP is expected to supply clean and renewable power in the area as early as October this year and can generate 41,000 MW hours annually upon operation.

PERC also recently completed the buyout of two other solar developments: the 19.6-MWdc San Jose solar project in Nueva Ecija and the 41-MWdc Limbauan solar project in Isabela.

“In addition to our solar ventures, our offshore wind subsidiary, Buhawind Energy Philippines, is steadily advancing with the development of our three offshore wind projects,” Dee and Reyes noted.

These wind facilities are located in Northern Luzon, Northern Mindanao and East Panay.

Following the completion of a wind measurement strategy report and the issuance of environmental guidelines, PERC is set to start the preparations for an on-site wind measurement campaign.

“For 30 years, our company has strengthened its position not only as a trailblazer but also as an effective driving force in the country’s energy industry,” the PERC officials said, reaffirming their sustainability commitment.

Aiming to provide reliable and sustainable energy solutions, PERC is primarily engaged in RE development, power generation and upstream oil exploration.

PERC, through PGEC, owns a 65-percent stake in the 32-MW Maibarara geothermal project in Batangas, 40 percent in the 50-MW Nabas wind facility in Aklan and 56 percent in the 70-MWdc Tarlac solar development.