DOE Awards San Vicente Wind Energy Service Contract to PetroGreen

November 19, 2019

The Department of Energy (DOE) officially awarded to PetroGreen Energy Corporation (PGEC) the San Vicente (Palawan) Wind Energy Service Contract, which PGEC received on November 11, 2019. The service contract, effective October 9, 2019, vests PGEC with the rights and responsibilities to harness wind energy and develop and operate the corresponding renewable energy facility in the area. The proposed project is situated in the municipality of San Vicente, Palawan, approximately 130 km north of Puerto Princesa.

“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,“ says PGEC deputy COO Maria Victoria M. Olivar. “With the award of the service contract, we will proceed with our feasibility studies to ascertain the commercial viability of the block,” adds Ms. Olivar.

PGEC is the renewable energy holding unit of publicly-listed PetroEnergy Resources Corporation (PERC), a member of the Yuchengco Group of Companies (YGC). PGEC power facilities include the 32 MW Maibarara geothermal plant in Sto. Tomas, Batangas by Maibarara Geothermal, Inc. (MGI), the 36 MW Nabas-1 wind farm operated by PetroWind Energy Inc. (PWEI) and the 70 MW Tarlac solar project in Tarlac City under PetroSolar Corporation (PSC).

PERC President Milagros V. Reyes declares “This new project is part of our goal of increasing PGEC’s renewable energy capacities through deliberate expansion in selected regions of the country. 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.”