The Board of Investment awarded a certificate of registration to PetroSolar Corp.’s 20-megawatt Tarlac-2 Solar Power Project in Central Technopark, Tarlac City.
PetroSolar, a joint venture of PetroGreen Energy Corp. and EEI Power Corp., owns and operates the existing 50-MW Tarlac-1 solar plant which started commercial operations in February 2016 as one of the early qualifiers in the government’s solar feed-in-tariff program.
PGEC is the renewable energy holding unit of publicly-listed PetroEnergy Resources Corp.
The BoI awarded the certificate of registration to the Tarlac 2 project of PetroSolar on Sept. 17.
“With BoI’s award of the incentives registration for our Tarlac -2 project, PetroSolar is closer to securing the confirmation of commerciality from the Department of Energy needed for project construction to begin. We are excited by this new investment which will see our solar asset increase in capacity from 50 MW to 70 MW,” PetroSolar president Milagros Reyes said in a statement.
PGEC also owns and operates with other partners and operating units the 32-MW Maibarara geothermal project in Batangas and the 36-MW Nabas wind farm in Aklan.
“Despite the current regulatory and market uncertainties, PGEC is pushing through with its calibrated expansion of renewable energy assets in key locations to reach our goal of about 200 MW to 400 MW installed capacity in two to four years’ time,” PGEC vice president and chief operating officer Francisco Delfin Jr. said.
Delfin earlier said PetroSolar was already evaluating the engineering, procurement and construction contractors for the project.
He said PERC through PEGC was also pursuing the expansion of the 36-MW Nabas wind project in Aklan by another 14 MW.
