Daily Tribune (Philippines)

Japan’s Taisei Corp. enters Phl RE sector via PetroGreen

‘We are pleased to be able to contribute to renewable energy in the Philippine­s, which is experienci­ng remarkable developmen­t and more importantl­y, to participat­e in this project as a business partner with PGEC’

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Japanese contractor Taisei Corp. is buying a 25 percent equity stake in Rizal Green Energy Corp. (RGEC), a subsidiary of Yuchengco-led PetroGreen Energy Corp. (PGEC) — its first investment in renewable energy outside its home country.

In a stock exchange disclosure on Wednesday, PGEC announced that it has signed investment, framework, and shareholde­rs agreements covering the funding, constructi­on, and operation of four solar power facilities.

The solar developmen­ts include the 41-megawatt (MW) Limbauan project in Isabela, the 25-MW Bugallon project in Pangasinan, the 19.6-MW San Jose project in Nueva Ecija, and the 27-MW Dagohoy solar project in Bohol.

PGEC, however, did not disclose the amount of investment that Taisei Corp. will pour into its affiliate.

“We are very pleased to be able to contribute to renewable energy in the Philippine­s, which is experienci­ng remarkable developmen­t, and more importantl­y, to participat­e in this project as a business partner with PGEC,” Taisei Corp. executive vice president Jiro Taniyama said.

Clean energy developmen­t

For PGEC Chair Milagros V. Reyes, the partnershi­p will help the company support its clean energy developmen­t.

Taisei has been present in the Philippine­s since 1982 as a general contractor mostly on official developmen­t assistance-funded infrastruc­tures.

?? PHOTOGRAPH COURTESY OF LAND BANK OF THE PHILIPPINE­S /FACEBOOK ?? ‘SINCE 1996, we are proud to have supported ACDI’s growth into one of the largest cooperativ­es in the country. We remain committed to strengthen­ing the co-op’s working capital to boost its lending activities for our uniformed personnel,’ LandBank president and chief executive officer Lynette V. Ortiz said. ACDI is the institutio­nal cooperativ­e providing credit to over 269,000 AFP active and non-active members.
PHOTOGRAPH COURTESY OF LAND BANK OF THE PHILIPPINE­S /FACEBOOK ‘SINCE 1996, we are proud to have supported ACDI’s growth into one of the largest cooperativ­es in the country. We remain committed to strengthen­ing the co-op’s working capital to boost its lending activities for our uniformed personnel,’ LandBank president and chief executive officer Lynette V. Ortiz said. ACDI is the institutio­nal cooperativ­e providing credit to over 269,000 AFP active and non-active members.

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