PetroGreen’s 2 solar projects get gov’t OK

PetroGreen Energy Corp., the renewable holding unit of Yuchengco-led PetroEnergy Resources Corp. (PERC), has been given the green light by the government for two new utility-scale solar power projects.

PERC assistant vice president Maria Victoria Olivar said PetroGreen Energy has 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 (DENR) for the 25-megawatt direct current (MWdc) Bugallon project in Pangasinan and the 27 MWdc Dagohoy project in Bohol.

“Resolutions of support for the projects have also been granted by the local governments of Pangasinan and Bohol, for which we are grateful,” Olivar said.

She said the company’s final investment decision now awaits the closing of ongoing discussions with selected contractors and project lender.

PERC president Milagros Reyes said the two new solar projects continue the company’s calibrated expansion of its renewable energy assets.

This comes even as the firm carefully wind down its upstream petroleum operations to go completely renewables in the near future.

“These new projects not only contribute to the government’s goal of increasing renewable energy’s share in our generation mix but will also provide fresh investments and critical power supply in two high-growth areas of the country – Bohol and Pangasinan,” Reyes said.

PetroGreen Energy is an investor and developer of renewable energy projects in the country.

The company has significant stakes in the 32-MW Maibarara geothermal facility in Batangas operated by Maibarara Geothermal Inc., the 36 MW Nabas1 wind power project in Aklan by PetroWind Energy Inc., and the 70-MWDC Tarlac solar power facility by PetroSolar Corp.

It also recently acquired three new offshore wind blocks from the DOE covering offshore northern Luzon, northern Mindoro, and eastern Panay.