Our Vision
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.
PetroGreen Energy Corporation
About us
PetroGreen Energy Corporation (PGEC) is a Philippine renewable energy producer that aims to expand the reach of renewable energy in the country. A subsidiary of PetroEnergy Resources Corporation (PERC), PGEC was incorporated on March 31, 2010 to undertake PERC’s diverse renewable energy projects.
PGEC currently spearheads projects in geothermal, wind, and solar energy production. It holds a 65 percent interest in the 32-MW Maibarara Geothermal Power Project (MGPP) in Batangas, a 40 percent stake in the 50-MW Nabas Wind Power Project (NWPP) in Aklan, and a 56 percent share in the 70-MWdc Tarlac Solar Power Project (TSPP).
PGEC continuously explores new investment opportunities in renewable energy and retail electricity to help augment the supply of readily available, sustainable, clean electricity.
Our Mission
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Engage in strategic initiatives that contribute to meeting people’s energy needs by using our technical capabilities and industry expertise;
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Provide optimum value for our shareholders;
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Develop and retain highly motivated employees; and
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Uplift the communities where we operate through socially and environmentally responsible operation.
Our Values
Integrity
We uphold moral integrity and honesty in our commitments.
Credibility
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.
Projects
Renewable energy development paves the way for sustainable energy. From geothermal, wind and solar energy, PGEC spearheads projects that are sustainable, profitable, and have minimal carbon footprints.
Sto. Tomas
Our company is part of the Maibarara Geothermal Power Project (MGPP) in Sto. Tomas, Batangas. MGPP has two power plants that generate a combined 32-MW of clean, geothermal energy. Built on a compact yet rich 7.5 hectare geothermal field, our 20-MW Maibarara-1 and 12-MW Maibarara-2 supply electricity to the Luzon grid.
Nabas, Aklan
PGEC is also involved in the 50 MW Nabas Wind Power Project (NWPP) in Nabas, Aklan. Perched at an elevation of 300 to 500 masl, the first unit of the 36-MW Nabas-1 wind farm was commissioned in June 2015. While its second phase, the 14-MW Nabas-2 is under development.
Tarlac
The company is also engaged in solar power generation through the 50-MWdc Tarlac Solar Power Project (Tarlac-1) in Central Technopark, Tarlac City. The Tarlac-1 solar farm was commissioned on February 10, 2016 and was one of the earliest qualifiers for the solar feed-in-tariff. The facility was then expanded to include another 20MWdc known as Tarlac-2, which went online in May 2019.
News & Announcement
Recent Articles
2018-04-18
PetroEnergy Posts 44% Growth in 2017 Consolidated Net Income
PetroGreen
Publicly-listed, PetroEnergy Resources Corporation (PERC) declared on Monday, a 2017 consolidated net income of US$ 8.46MM, a 44% increase from US$ 5.86MM in 2016. Net income attributed to equity holders of PERC also increased by 114% from US$ 1.77 in 2016 to US$ 3.79 in 2017. The increases are largely due to higher revenues from electricity sales of its renewable energy investments. Revenues from its petroleum operations in 2017 also increased by 22% as a result of slightly higher crude oil prices. “Our 2017 financial performance shows PERC’s growth-driven direction, credited mainly to the efficiency and reliability of our RE power plant operations. And to be recognized recently by the Financial Times as one of the fastest-growing companies in the Asia-Pacific region is truly and encouraging achievement for PetroEnergy,” said Ms. Milagros V. Reyes, PERC President. Sustained Growth PERC’s original business is petroleum exploration and production. In 1995, PERC along with US partner, Vaalco Inc., secured the Etame Offshore oil block in Gabon, West Africa. In 1998, it made an oil discovery in the block and went on to start commercial oil production in 2002. PERC was listed in the Philippine Stock Exchange (PSE) in 2004. In 2009-2010, PERC diversified into renewable energy development and operation. Through its subsidiary, PetroGreen Energy Corporation (PGEC), PERC invested in 20MW Maibarara Geothermal Power Project (COD, 2014), 36MW Nabas Wind Power Project (COD, 2015), and 50MWDC Tarlac Solar Power Project (COD, 2016). The 12MW Maibarara-2 geothermal power facility in Batangas successfully started supplying power to the Luzon grid, in March 9, 2018, increasing PERC’s total RE power generation portfolio to 118MW. “We are optimistic that with our planned expansion in our Tarlac and Nabas projects, and the profitable operations of our existing power facilities, PERC will continue to grow both in terms of revenue and in the benefits we give to our various stakeholders. Our sustained growth is an affirmation of the value we put into our partnerships with public and private entities,” adds Mr. Francisco G. Delfin, Jr., PERC Vice President.
Read More
2019-11-19
DOE Awards San Vicente Wind Energy Service Contract to PetroGreen
PetroGreen
The Department of Energy (DOE) officially awarded to PetroGreen Energy Corporation (PGEC) the San Vicente (Palawan) Wind Energy Service Contract, which PGEC received on November 11, 2019. The service contract, effective October 9, 2019, vests PGEC with the rights and responsibilities to harness wind energy and develop and operate the corresponding renewable energy facility in the area. The proposed project is situated in the municipality of San Vicente, Palawan, approximately 130 km north of Puerto Princesa. “The eco-tourism growth in San Vicente and adjoining towns, the lack of reliable power supply, and the strong support by the provincial and municipal governments for environment-friendly energy facilities drive our decision to invest in San Vicente, Palawan,“ says PGEC deputy COO Maria Victoria M. Olivar. “With the award of the service contract, we will proceed with our feasibility studies to ascertain the commercial viability of the block,” adds Ms. Olivar. PGEC is the renewable energy holding unit of publicly-listed PetroEnergy Resources Corporation (PERC), a member of the Yuchengco Group of Companies (YGC). PGEC power facilities include the 32 MW Maibarara geothermal plant in Sto. Tomas, Batangas by Maibarara Geothermal, Inc. (MGI), the 36 MW Nabas-1 wind farm operated by PetroWind Energy Inc. (PWEI) and the 70 MW Tarlac solar project in Tarlac City under PetroSolar Corporation (PSC). PERC President Milagros V. Reyes declares “This new project is part of our goal of increasing PGEC’s renewable energy capacities through deliberate expansion in selected regions of the country. We recognize that this is a long-term commitment and we are excited to start working with the DOE, the Palawan local governments, and other government agencies in bringing green, indigenous, and renewable energy supply to San Vicente through wind power or wind-hybrid power systems.”
Read MoreNews Archive
PetroEnergy Posts 44% Growth in 2017 Consolidated Net Income
2018-04-18
DOE Awards San Vicente Wind Energy Service Contract to PetroGreen
2019-11-19