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Petro Energy Resources Corp. (PERC) subsidiary Petro Wind Energy Inc. (PWEI) signed a P1.8- billion loan agreement with the Development Bank of the Philippines (DBP) for the development and construction of the 13.2 megawatts (MW) Nabas-2 wind power project in Aklan.
In a disclosure to the Philippine Stock Exchange, PERC said that the agreement was signed on Wednesday.
PERC said the loan with a 15-year tenor will be utilized for major infrastructure build-up including the supply and installation of wind turbine generators, construction of a temporary jetty, internal access roads, new substation and switching station.
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