Yuchengco-led EEI Corp. said it is selling a quarter of its stake in renewable energy firm PetroGreen Energy Corp. to Kyuden International Corp.
It holds 10 percent through unit EEI Power Corp.
Kyuden International meanwhile is a unit of Japan’s Kyushu Electric Power Co. Inc.,
After the sale, EEI Power’s interest in PGEC will be reduced from to 7.5 percent.
PGEC was incorporated in 2010 and currently holds a 65 percent interest in the 32-MW Maibarara Geothermal Power Project in Batangas, a 40 percent stake in the 50-MW Nabas Wind Power Project in Aklan, and a 56 percent share in the 70-MWdc Tarlac Solar Power Project .
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