PETROGREEN Energy Corp., the renewable energy arm of PetroEnergy Resources Corp., said on Wednesday said it had completed site development works for its 27-megawatt of direct current in Bohol.
“All the major site development works, prior to the installation of the solar panels and major electrical facilities, have been completed by our contractor, Media Construction and Development Corp.,” PetroGreen’s site engineer Frederick B. Pizana said in a statement.
Once operational, the P1.2-billion Dagohoy solar power project will supply power to Bohol, which has been dependent on imported power supply from Leyte and Cebu.
PetroGreen is a joint venture between PetroEnergy and Kyuden International Corp., the overseas investment arm of Kyushu Electric Power Co.
The company’s major contractors — Global Electric for the solar farm construction and Philcantech Enterprises for the electrical and grid connection — will prepare for the start of the power plant construction by the second week of January next year, according to PetroGreen Vice-President for Commercial Operations Maria Victoria M. Olivar.
“Barring any unforeseen circumstances, this progress should allow [PetroGreen] to meet our commitment to the [Department of Energy] and to our off-taker SN Aboitiz Power,” Ms. Olivar said.
Dagohoy Mayor Hermie C. Relampagos said the town is “blessed to be the site of the first large solar farm in Bohol.”
Earlier this month, PetroGreen said it had gained support from the municipal government of Bugallon in Pangasinan for its 25-megawatt solar power project.
The solar project, which is expected to generate 41,000 megawatt-hours of power, is set to deliver power in the area by the fourth quarter of next year.
For the third quarter, PetroEnergy reported an attributable net income of P167.95 million, up 51.3% from P111.03 million recorded last year.
Gross revenues increased by 47.6% to P959.51 million from P649.92 million previously. — Sheldeen Joy Talavera
