PetroEnergy projects deemed commercial

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Two renewable energy projects of PetroEnergy Resources Corp. (PERC) have been declared commercial by the Energy department.

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The requisite certificates were issued late last month for the 12-megawatt (MW)
Maibarara-2 geothermal expansion project in Batangas and the 50-megawatt peak (MWp) Tarlac solar facility in Tarlac City.

Maibarara-2 is owned and operated by Maibarara Geothermal Inc. (MGI), while the solar facility is owned and being developed by PetroSolar Corp. (PSC).

PetroGreen Energy Corp. (PGEC), a 90 percent-owned subsidiary and the renewable energy arm of PERC, has a 65 percent stake in MGI and 56 percent in PSC.

The Department of Energy issued the Confirmation of Commerciality and Certificate of Additional Investment for the Maibarara-2 expansion last Sept. 24.

The project involves the installation of a new 12-MW unit adjacent to the existing 20-MW Maibarara-1 unit and is expected to add at least 95,000 MWh to MGI’s annual generation.

PetroEnergy increased Maibarara-2’s gross capacity to 12 MW from 10 MW after a successful flow test and the release of an independent resource validation by California-based Geothermal Science Inc.

The test confirmed more than sufficient reserves for the two units for 25 years.
MGI President Francisco Delfin Jr. said the capacity increase would enhance the firm’s revenues.

“We aim for M2 (Maibarara-2) unit to be on-line by third quarter of 2017,” he added.

The Certificate of Commerciality for PSC’s 50-MWp Tarlac Solar Project in Central Technopark, Tarlac City, meanwhile, was issued last Sept. 30.

PERC and PSC President Milagros Reyes said the affirmation was a step towards Feed-in-Tariff qualification by the first quarter of 2016.

“With two new RE (renewable energy) projects declared commercial and expected to be commissioned in 2016 and 2017, PERC’s expansion and transition to power generation is proceeding deliberately as planned,” Reyes said.

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