Connect with us

Hi, what are you looking for?

Top Stories

Editor's Pick

PetroGreen secures P834-M loan for large-scale solar project in Bohol

YUCHENGCO-LED PetroGreen Energy Corp. (PGEC) has secured a loan facility worth P834 million from a local bank for the development of its 27.5-megawatt solar power project in Bohol.

The company secured the financing from Rizal Commercial Banking Corp. (RCBC), PGEC said in a statement on Tuesday.

The loan will be used for the construction of the Dagohoy Solar Power Project (DSPP) in San Vicente and Sta. Cruz, Dagohoy, Bohol, which is targeted for completion by the fourth quarter.

“This is a significant milestone for PGEC as we accelerate and increase our renewable energy business and assets,” PGEC Senior Vice-President for Corporate Services Arlan P. Profeta said.

“We have forged a time-tested and fruitful relationship with RCBC, which have resulted in successful implementation of our other RE (renewable energy) projects and we are grateful that we are able to continue the partnership,” he added.

According to PGEC, the DSPP is expected to be the first large-scale solar power facility in Bohol and “will reduce the province’ dependency from power generation coming from outside the island province.”

The company has already completed the site clearing and development, and the installation of photovoltaic solar panels will begin soon.

“Working with PGEC to fund their various renewable energy projects is very much consistent with RCBC’s sustainability initiatives and direction of supporting projects with positive impact to the environmental and society,” RCBC Corporate Banking Group Head Elizabeth E. Coronel said.

PGEC is the renewable energy arm of publicly-listed PetroEnergy Resources Corp. (PERC) and is a joint venture with Kyuden International Corp., the overseas investment unit of Kyushu Electric Power of Japan.

For the third quarter, PERC reported an attributable net income of P167.95 million, up 51.3%. Gross revenues grew by 46.2% to P959.51 million.

At the local bourse on Tuesday, PGEC’s shares went up by P0.03 or 0.67% to close at P4.49 each. — Sheldeen Joy Talavera

You May Also Like


As the world seeks sustainable and energy-efficient solutions for heating and cooling, the heat pump market is experiencing a significant surge. According to the...


The introduction of aggressive climate objectives by global economies and growing prospects for reducing carbon emissions are driving the growth of the district heating...


In the dynamic automotive sector, consistent growth of the electric vehicle (EV) charging industry has become increasingly evident. Consumers and businesses alike are recognizing...


With a higher focus on sustainable living in modern architecture, the building automation systems (BAS) industry stands as a beacon of innovation. These systems...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Secrets Of Richdads. All Rights Reserved.