PetroEnergy Resources Corporation (PERC) is a publicly listed Philippine energy company under the reputable conglomerate of Yuchengco Group of Companies (YGC). PERC was founded in 1994 to undertake upstream oil exploration and development. Since then, it has diversified into renewable energy and power generation. It continues to value its long-held business philosophy: careful selection of projects through rigorous technical analysis, partnership with credible industry players, and risk reduction through optimum capital exposure. PetroEnergy, through its renewable energy arm, PetroGreen Energy Corporation (PGEC), has investments in the following joint venture companies : PetroSolar Corporation, PetroWind Energy Inc., and Maibarara Geothermal Incoporated.
PetroGreen Energy Corporation (PGEC) is a 90%-owned subsidiary of PERC. It was incorporated on March 31, 2010 to undertake PERC’s renewable energy projects. Currently, PGEC holds 65% interest in the 32 MW Maibarara Geothermal Power Project (MGPP) in Batangas, 40% stake in the 50 MW Nabas Wind Power Project (NWPP), and 56% interest in the 70 MWdc Tarlac Solar Power Project (TSPP). PGEC continuosly looks for new investment opportunities in renewable energy and in retail electricity.
Maibarara Geothermal Inc. (MGI) is a joint venture corporation among PGEC (65%), PHINMA Energy (25%), and PNOC Renewable Corporation (10%). MGI developed and now operates the 20 MW Maibarara-1 and 12 MW Maibarara-2 Geothermal Power Project (MGPP) located in Sto. Tomas, Batangas. Maibarara-1's development is considered among the fastest in the Philippine geothermal energy industry. On the other hand, Maibarara-2, which was commissioned on April 30, 2018, was considered to be the only new geothermal power plant erected in the Philippines since 2014.
PetroWind Energy Inc. (PWEI) was incorporated on March 6, 2013 to develop and operate the 50 MW Nabas Wind Power Proect (NWPP) in Nabas-Malay, Aklan. PWEI's shareholders are PGEC (40%), Thailand's BCPG Public Company Ltd. (40%), and EEI Power Corporation (20%). The first phase (36 MW Nabas-1) of the wind farm was commissioned in June 2015, while, the second phase (14 MW Nabas-2) is still on pre-development phase. Nabas-1 is erected at an elevation of 300-500 masl in the foothills of northern Aklan making it the country's highest perched wind farm to date.
PetroSolar Corporation (PSC) is a 56%-owned subsidiary of PetroGreen Energy Corporation (PGEC) and 44% by EEI Power Corporation. On March 25, 2015, PSC signed the service contract with the DOE to develop and operate the 50 MWdc Tarlac Solar Power Project (Tarlac-1) in Central Technopark, Tarlac City. Tarlac-1 was successfully commissioned on February 10, 2016, making it one of earliest qualifiers for the solar feed-in-tariff. Recently, PSC expanded the facility to add another 20MWdc operating unit (Tarlac-2), which was successfully put online in May, 2019.
To grow into one of the most profitable publicly listed energy companies in the Philippines through judicious investments in conventional and renewable energy exploration, development and generation.
Engage in strategic initiatives that contribute to meeting people’s energy needs by using our technical capabilities and industry expertise;
Provide optimum value for our shareholders;
Develop and retain highly motivated employees; and
Uplift the communities where we operate through socially and environmentally responsible operation.
We uphold moral integrity and honesty in our commitments.
We believe in the importance of cultivating our expertise and delivering results.
Passion for Growth and Sustainability
We commit to professionalism and maintaining our drive to achieve our vision and mission.