PetroEnergy to activate 3 solar projects by 2025 in Philippines

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PetroEnergy Resources Corp. (PERC) of the Yuchengco Group is planning to switch on at least three solar projects across the country next year.

The listed firm expects to contribute over 87 megawatts (MW) of clean power to the Luzon and Visayas grids once the projects become fully operational.

PERC, through Dagohoy Green Energy Corp., is currently developing the 27-MW Dagohoy solar power project in Bohol.

Rizal Commercial Banking Corp., the Yuchengco family's banking arm, extended a loan of P834 million to PERC unit PetroGreen Energy Corp. (PGEC) in March to fast track the construction of the project.

The testing and commissioning of the project are set to begin next month, while commercial operations are slated as early as January 2025.

PERC also recently completed the acquisition of two other solar developments: the 19.6-MW San Jose solar project in Nueva Ecija and the 41-MW Limbauan solar project in Isabela.

Earlier, the Department of Energy authorized the assignment and transfer of the service contract for the Nueva Ecija project to San Jose Green Energy Corp. (SJGEC) from PGEC.

This enabled SJGEC to continue the construction of solar and grid facilities for the 19.6-MW project, with testing and commissioning targeted to start by the end of September.

PERC plans to bring the San Jose project into commercial operations by the first quarter of 2025.

For the Limbauan solar development, the National Grid Corp. of the Philippines recently approved the start of a system impact study 'on or before September 2024,' the firm said.

Site clearing operations for the project are expected to be finished by the end of the year to prepare for the development of solar and grid facilities.

The 41-MW project is set to be energized as early as October next year.

PERC officials earlier said they would continue to power the company's growth by developing new renewable energy (RE) projects.

Also in the pipeline are the 25-MW Bugallon solar project in Pangasinan as well as the three offshore wind facilities in northern Luzon, northern Mindanao and Panay.

Aiming to provide reliable and sustainable energy solutions, PERC is primarily engaged in RE development, power generation and upstream oil exploration.