Yuchengco-led PetroGreen Energy Corp. is set to develop a 25-megawatt (MW) solar power plant in Pangasinan to boost supply in the province and reduce carbon emissions, following the local government’s issuance of a locational clearance for the project.
The Bugallon solar power project in Barangay Salomague Sur is expected to supply renewable power in the area by late 2024, PetroGreen said in a statement on Thursday.
Aside from the locational clearance, the company must also secure a preconstruction building permit before starting development in January 2024.
PetroGreen said it was expecting the permit would be “issued in time for the target start of development.”
The project will be located on a 25-hectare site in the municipality of Bugallon, and it is expected to generate 41,000 megawatt-hours of power annually while reducing carbon emissions by 29,056 metric tons, the company said.
“We are grateful, and we welcome this much needed investment by PetroGreen here in our locality that will not only add to our power supply but will also contribute green jobs, social upliftment and fiscal benefits to Bugallon and to Pangasinan,” said Bugallon Mayor Priscilla Espino.
The company is the renewable energy holding subsidiary of listed PetroEnergy Resources Corp., a member of the Yuchengco Group of Companies.
PetroEnergy has expanded its renewable energy ventures through the establishment of Rizal Green Energy Corp., a subsidiary of PetroGreen, to develop solar projects in the provinces of Pangasinan, Bohol, Nueva Ecija and Isabela.
Comments