PetroGreen Energy Corp., a unit of PetroEnergy Resources Corp., is preparing to participate in the competitive selection process, or the auction on the supply of electricity, in Palawan.
PetroGreen plans to put up a 10-megawatt to 20-MW solar, battery and diesel power project in Palawan, depending on the electricity requirements of Palawan Electric Cooperative.
“For Palawan, this is a service contract we secured as early as 2017. We have already secured many of the necessary government permits, including LGU endorsements, ECC clearances,” PetroEnergy vice president Francisco Delfin Jr. said.
“The only thing holding us back from proceeding is the off-take in Palawan—there’s only one buyer and that is Paleco… We are still awaiting,” he said.
He said PetroGreen’s project comprises of a solar facility with a battery storage and diesel component. It is estimated to cost between P1.1 billion and P1.3 billion.
“It depends ultimately what Paleco will stipulate in the CSP. We can go with an initial 10 MW, but it depends on the customer Paleco,” said Delfin.