Danessa Rivera (The Philippine Star)
- November 20, 2019 - 12:00am
MANILA, Philippines — The Department
of Energy (DOE) has awarded Yuchengco-led PetroGreen Energy Corp. (PGEC) a
contract to develop a wind project in Palawan.
The San Vicente (Palawan) wind
energy service contract was recently received by PGEC.
The service contract grants PGEC the
rights and responsibilities to harness wind energy and develop and operate the
corresponding renewable energy facility in San Vicente, Palawan.
PGEC deputy chief operating officer
Maria Victoria Olivar said the company would now conduct feasibility studies
for the project.
“With the award of the service
contract, we will proceed with our feasibility studies to ascertain the
commercial viability of the block,” she said.
“The eco-tourism growth in San
Vicente and adjoining towns, the lack of reliable power supply, and the strong
support by the provincial and municipal governments for environment-friendly
energy facilities drive our decision to invest in San Vicente, Palawan,“ Olivar
said.
The new wind prospect will help
boost the renewable energy portfolio of publicly-listed PetroEnergy Resources
Corp. (PERC), a member of the Yuchengco Group of Companies (YGC).
PGEC is the renewable energy holding
unit of PERC.
“This new project is part of our
goal of increasing PGEC’s renewable energy capacities through deliberate
expansion in selected regions of the country,” PERC president Milagros
Reyes said.
We recognize that this is a
long-term commitment and we are excited to start working with the DOE, the
Palawan local governments, and other government agencies in bringing green,
indigenous, and renewable energy supply to San Vicente through wind power
or wind-hybrid power systems,” she said.
PGEC power facilities include the
32-megawatt (MW) Maibarara geothermal plant in Sto. Tomas, Batangas by
Maibarara Geothermal Inc., the 36-MW Nabas-1 wind farm operated by PetroWind
Energy Inc., and the 70-MW Tarlac solar project in Tarlac City under PetroSolar
Corp.
It also plans a hybrid solar
power project in Palawan, with a capacity of 10 to 20 MW once the island’s
power coop commences its competitive selection process.
Originally, PERC’s business is
petroleum exploration and production.
PERC, along with US partner Vaalco
Inc., secured the Etame offshore oil block in Gabon, West Africa in 1995.
It made an oil discovery in the block in 1998 and started commercial oil
production in 2002.
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