PETROENERGY Resources Corp. (PERC), the publicly listed energy arm of the Yuchengco Group of Companies, aims to increase its energy capacity to 500 megawatts (MW) by 2028-2029.
“Right now, we have about 145 megawatts capacity and in the next year or so, we will be adding about 100 more megawatts. By 2028 and to 2029, we ambition to be 500 megawatts in terms of capacity,” PERC Senior Vice-President for Corporate Services Arlan P. Profeta said at a forum last week.
Mr. Profeta said that the company is still evaluating whether to participate in the upcoming rounds of the Department of Energy’s (DoE) Green Energy Auction (GEA).
“We’re looking into that also, but I cannot confirm anything right now; all of these are being studied,” he said.
The DoE is set to conduct two rounds of GEA this year, which will cover various renewable energy technologies. The GEA program aims to promote renewable energy as one of the country’s primary sources of energy through competitive selection.
In April, PetroWind Energy, Inc. (PWEI) announced that Phase 2 of the 13.2-MW Nabas wind power project had begun exporting power to the grid.
The Nabas-2 wind power project, located south of the existing 36-MW Nabas-1 wind power project, will add six turbine generators to the 18 turbines already in operation in Phase 1.
PWEI is a joint venture of PetroGreen Energy Corp., the renewable energy holding unit of PERC, and Thailand’s BCPG Public Co. Ltd.
In May, PERC, through its Dagohoy Green Energy Corp. unit, started the installation of photovoltaic panels in its 27-MW direct current solar power project in Dagohoy, Bohol.
For the second quarter, PERC reported a 27.9% increase in its attributable net income to P134.2 million. Gross revenues grew by 9.9% to P847.46 million. — Sheldeen Joy Talavera
