PetroEnergy Resources Corp. is planning to develop the three offshore wind power projects in its pipeline with a foreign partner, the Yuchengcos’ energy arm said in a regulatory filing on Tuesday. READ:
“These projects will be developed by PGEC alongside a foreign partner,” the listed company said in its information statement submitted to the Philippine Stock Exchange.
In 2021, PetroGreen secured three wind energy service contracts from the DoE covering three offshore wind blocks. It said PetroGreen had also secured the DoE’s endorsement to local government units and national government agencies for the northern Luzon project in January 2022. The proposed project is around 130 kilometers north of Puerto Princesa. Activities for the meteorological mast installation program for the San Vicente wind-hybrid power project had been put on hold due to pandemic-related travel restrictions.