PetroEnergy Resources Corp. (PERC) said unit PetroGreen Energy Corp. (PGEC), reached several milestones on its solar projects particularly the 25 megawatts (MW) Bugallon project in Pangasinan and the 27 MW Dagohoy project in Bohol.
“We have secured the solar energy operating contracts from the Department of Energy (DOE) and the corresponding environmental compliance certificate from the Department of Environment and Natural Resources for these two new ventures,” said Maria Victoria Olivar, PERC assistant vice president, in a statement
Olivar noted resolutions of support for the projects have also been granted by the local governments of Pangasinan and Bohol, with the company now awaiting final investment decision, pending the closing of ongoing discussions with contractors and a project lender.
Milagros Reyes, PERC president, said the two new solar projects are part of the company’s “calibrated expansion” of renewable energy assets even as they “carefully wind down” upstream petroleum operations to go completely renewables in the near future.
At present, PGEC has significant stakes in the 32 MW Maibarara geothermal facility in Batangas, the 36 MW Nabas-1 wind power project in Aklan and the 70 MW Tarlac solar power facility.
PERC through PGEC, also recently acquired three new offshore wind blocks from the DOE covering offshore northern Luzon, northern Mindoro and eastern Panay. -Jed Macapagal
