Aklan project gets fiscal incentives

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PetroEnergy Resources Corp. (PERC) said its subsidiary, PetroWind Energy Inc. (PWEI), has secured fiscal incentives from the Board of Investments (BOI) for its 13.2 megawatts (MW) Nabas-2 wind power project in Aklan.

PWEI is a joint venture between Yuchengco Group of Companies’ PERC with a 20 percent stake, PetroGreen Energy Corp. (PGEC) with a 40 percent stake and the remaining 40 percent stake held by Thai-owned BCPG Wind Cooperatief UA.

Ceferino Rodolfo, BOI managing head and Department of Trade and Industry undersecretary, said the agency is hopeful that the company will register more renewable energy projects in its pipeline, apart from the P2.57-billion wind power project.

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“We welcome BOI’s approval of the Nabas-2 incentives registration as it will boost the power generation capacity of our service contract block, thus contributing to DOE’s (Department of Energy) goal of making western Visayas a renewable energy hub of the country,” said Francisco Delfin Jr., PGEC president and chief executive officer, in a statement.

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