by Alena Mae S. Flores, 26 March 2015
from Manila Standard Today
PetroGreen Energy Corp., a subsidiary of listed PetroEnergy Resources Corp., signed a service contract with the Energy Department to build a solar power project, with a capacity of 10 to 50 megawatts, in Tarlac province.
PetroGreen said the solar power plant would be developed on a 50-hectare property near Hacienda Luisita in Tarlac. The site has a flat terrain, with no shading from trees or nearby topographies, and is strategically located near existing access roads, power distribution lines, and substations.
PetroGreen said it would immediately commence the two-year pre-development of the Energy-approved work program, with technical and financial due diligence studies.
PetroGreen vice resident and chief operating officer Francisco Delfin Jr. said the solar power project would have a cost in the range of $1.5 million to $2 million, “with land cost an important factor.”
Delfin said the company was also “considering taking partners for the project.”
The company intends to develop the solar facility in stages and can expedite its work program based on the uptake of the 500 MW solar feed-in-tariff allocation.