Three renewable energy projects under the Yuchengco Group have cleared key regulatory and market milestones over the past two months, bringing nearly 72 megawatts (MW) of new renewable energy capacity closer to full commercial operations.

PetroWind Energy Inc. (PWEI) secured from the Independent Electricity Market Operator of the Philippines (IEMOP) the market commercial operation date (COD) for its 13.56-megawatt (MW) Nabas-2 wind project in Aklan, effective June 26.

The wind facility, a first round Green Energy Auction (GEA-1) project with an approved tariff of PHP 5.755 per kilowatt-hour (kWh), previously obtained provisional authority to operate from the Energy Regulatory Commission (ERC) on May 21.

Meanwhile, the ERC approved the Certificate of Compliance (COC) for the 33.831-megawatt-peak (MWp) Limbauan-2 solar power project in Isabela, owned by BKS Green Energy Corp., on June 8.

The GEA-2-qualified project is awaiting confirmation from IEMOP for its participation in the Wholesale Electricity Spot Market (WESM) after filing its application as a generating facility on June 18.

In Pangasinan, the ERC also approved on June 16 the dedicated point-to-point grid connection of the 25-MWp Bugallon solar plant of Bugallon Green Energy Corp.

The GEA-2 project has been undergoing grid compliance testing with the National Grid Corporation of the Philippines (NGCP) since commissioning began on April 18.

The three projects are subsidiaries of PetroGreen Energy Corp. (PGEC), the renewable energy arm of the Yuchengco Group.

“These approvals over the past two months bring these three projects of PetroGreen subsidiaries closer to full commercial operations further strengthening our company,” said PetroGreen Energy Corp. (PGEC) Assistant VP for Power Markets Dave P. Gadiano.

“Their full operation will add capacity to our RE portfolio, increase PGEC’s revenue stream, and deepen our reliability for meeting service contracts and GEA commitments to the Department of Energy (DOE),” he added.

Once fully operational, the three projects will contribute almost 72 MW of additional renewable energy capacity, supporting the delivery of projects awarded under the government’s Green Energy Auction Program.

How significant will the timely commercialization of Green Energy Auction projects be in accelerating the Philippines’ renewable energy targets and improving power supply reliability?

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