PetroEnergy Resources Corp. (PERC) has secured Philippine Competition Commission (PCC) approval to acquire the remaining 40% stake in PetroWind Energy Inc. (PWEI), paving the way for full ownership of the company operating the 49.2-megawatt Nabas Wind Power Project in Aklan. 

The company disclosed that it received notice from the PCC on July 22 confirming the competition regulator had cleared the acquisition of BCPG Wind Cooperatief U.A. ‘s entire stake in PWEI. 

The approval satisfies the final regulatory condition under the share purchase agreement signed in December 2025, allowing the parties to proceed with the transaction. 

The deal covers 7.81 million PWEI shares, equivalent to a 40% equity interest, for PHP 1.9 billion in cash, or PHP 243.15 per share. 

PWEI owns and operates the Nabas Wind Power Project in Aklan, one of the country’s pioneering utility-scale wind farms. The facility began commercial operations in 2015 and is being expanded to 49.2 MW, supplying renewable electricity to the Visayas grid.

Once completed, PERC and its 75%-owned subsidiary PetroGreen Energy Corp. will own 100% of PWEI, giving the group full control over the governance, financing, and strategic direction of the Nabas wind facility. 

PERC said it will make another disclosure once the transaction has been completed. 

What are your thoughts? Will greater ownership of operating renewable energy assets help developers move faster on expansion and investment? Join the discussion.

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