PetroEnergy hits 1 B kWh RE generation milestone
PetroGreen Energy Corp. (PGEC), the renewable energy holding unit of PetroEnergy Resources Corp., reached the one billion generation mark on Dec.2.
PGEC?s power production comes from three renewable energy plants ? the 20MW Maibarara-1 geothermal plant in Sto. Tomas, Batangas, the 36 MW Nabas-1 wind project in Aklan, and the 50MWDC Tarlac-1 solar facility in Tarlac City.
These facilities contributed 62.52 percent, 23.78 percent, and 13.7 percent, respectively to the aggregate 1 billion kwh output.
?The early achievement of this generation milestone, despite the relatively short period of the plants? commercial operation and their modest capacities, owe to the efficient operation by our teams and the good availability of the units to the grid.
We are delighted by this milestone not only for our shareholders and PGEC partners but also for their contribution in reducing wholesale electricity spot market prices as their must-dispatch character displaces more expensive fossil-fired plants in the WESM dispatch order,? said PERC president Milagros V. Reyes.
PGEC currently supplies 8.4 percent of wind power and 5.94 percent of solar capacities in the country.
MGI?s expected commissioning of the 12 MW Maibarara-2 unit this December will bring the field?s total gross capacity to 32MW.
PGEC plans to develop an additional 400 MW of renewable energy capacity in the next five years.