PetroEnergy Resources Corp. (PERC) plans to put up a solar farm in Luzon as part of efforts to diversify its renewable energy portfolio, a senior official said.
Francisco G. Delfin, Jr., PERC vice president, said its wholly-owned subsidiary PetroGreen Energy Corporation (PetroGreen), has found a possible location for a 50-megawatts (MW) solar facility.
“We’re going into solar and we have identified the area, which is in Tarlac near Hacienda Luisita,” Delfin told reporters.
Delfin said PERC is currently undertaking the environmental impact studies, the grid impact study (GIS) and the conceptual engineering design for the solar project.
While the project is still in the planning stage, Delfin said the company has started screening the potential engineering, procurement and construction (EPC) contractors.
He said the results of the initial studies, which is expected to be completed in the third quarter of the year, would determine the cost as well as the profitability of the project.
“Once we integrate the results of those studies, we will know the total project cost and the profitability and how we will fare relative to the other solar developers,” he said.
“We have to evaluate after the completion of all the feasibility studies whether there will be an opportunity or a chance for us to build and complete this 50 MW solar farm,” Delfin said.
PERC will consider possibility of expansion projects after “we learn from the first solar venture and then extend it in the future if we find the first venture to be profitable.”
When asked if the company would consider putting up a solar facility in its Nabas wind farm in Aklan, Delfin said itr will be a big challenge for PERC.
“In a sense, it’s an ideal for wind, but much more challenging if you combine it with solar,” he said.
At present, the company is operating wind and geothermal power plants in Luzon and the Visayas.
Through its subsidiary Petrowind Energy, Inc, the firm is currently operating the 16-MW wind farm in Nabas, Aklan province and a 20-MW geothermal power plant in Sto. Tomas, Batangas through Maibarara Geothermal Inc.