PetroEnergy Resources Corporation (PERC) has signed an agreement to acquire additional shares in PetroWind Energy Inc. (PWEI), increasing its stake in the wind power company.

In a filing with the Securities and Exchange Commission, PERC said it entered into a Share Purchase Agreement on December 18 to buy the entire 40% ownership stake of BCPG Wind Cooperatief U.A. in PWEI. Once the transaction is completed, PERC’s effective ownership in the company will rise to 90%.

At present, PERC directly owns 20% of PWEI, while its subsidiary, PetroGreen Energy Corporation, holds 40%, giving PERC an effective 50% interest. After the acquisition, PERC will hold 60% directly, with another 30% held indirectly through its subsidiary.

PERC said the transaction involves the remaining shares that it does not yet control and will not result in a change in control or consolidation status. The company added that the move is part of its strategy to simplify its ownership structure and increase its direct participation in its renewable energy projects.

The acquisition is still subject to customary closing conditions, including regulatory approvals. PERC said it will provide further disclosures once the transaction is completed.

For electricity consumers, ownership changes like this do not immediately affect power rates, but they might affect conditions in the long run. A higher ownership stake allows a company like PERC to have a greater share in the revenues and decisions of a renewable energy project, which can influence future investments, expansions, and how the project supports the country’s clean energy goals.

As companies continue to strengthen their positions in renewable energy projects, how will ownership consolidation shape the pace of wind power development in the Philippines?

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