PetroEnergy Resources Corporation.
PPSE:PERC4.50
PHP
-0.09
(-1.96%)
PetroEnergy Resources Corporation.
PSE:PERC
(Philippine Stock Exchange)
Recent
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4.50
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yld
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ROIC.AI
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- Business
- PetroEnergy Resources Corporation is a Philippines-based diversified energy company primarily engaged in upstream petroleum exploration, development, and production, as well as renewable energy power generation and electricity transmission. Founded in 1994 as Petrotech Consultants, Inc. and headquartered in Pasig City, Metro Manila, Philippines, the company operates as a key energy arm of the Yuchengco Group of Companies. The company conducts its business across two primary segments, comprising Upstream Oil and Renewable Energy, with core products and services including: crude oil extraction and exploration under petroleum service contracts and production-sharing agreements, notably through a participating interest in the offshore Etame Marin Permit in Gabon, West Africa; geothermal power generation, operations, and wholesale electricity supply through the Maibarara Geothermal Power Facility in Batangas; utility-scale solar photovoltaic power generation and wholesale grid supply through operational facilities including the Tarlac Solar Power Project, the Dagohoy Solar Power Project in Bohol, the San Jose Solar Power Project in Nueva Ecija, the Limbauan Solar Power Project in Isabela, the Bugallon Solar Power Plant in Pangasinan, and pipeline assets such as the Panitan Solar Project in Capiz; onshore and offshore wind energy project development, generation, and distribution through installations including the Nabas Wind Power Project in Aklan; energy infrastructure engineering, technical consultancy, and resource assessment services; and renewable energy project development encompassing battery energy storage systems and hybrid power integration. The company delivers wholesale electricity to the Wholesale Electricity Spot Market, the National Grid Corporation of the Philippines, power distribution utilities, electric cooperatives, and industrial consumers across the Philippines. Most of the company's renewable energy assets are held and operated through its primary renewable energy subsidiary, PetroGreen Energy Corporation, alongside operating entities including PetroSolar Corporation, PetroWind Energy Inc., Maibarara Geothermal Inc., Rizal Green Energy Corporation, and Buhawind Energy Philippines. In recent developments, PetroEnergy Resources Corporation has significantly advanced its clean energy transition through portfolio consolidation, operational expansions, and strategic international partnerships. The company completed the acquisition of minority equity interests formerly held by EEI Power Corporation across PetroGreen Energy Corporation, PetroSolar Corporation, and PetroWind Energy Inc. to streamline operational control. Operational capacity has expanded with the commercial commissioning of the 13.2-megawatt Nabas-2 wind power expansion in Aklan, the 25-megawatt-peak Bugallon solar plant, the 27-megawatt-direct-current Dagohoy solar facility, and solar phases across San Jose and Limbauan. Strategically, the company concluded an ownership reorganization of PetroWind Energy Inc. by acquiring the 40 percent equity interest held by Thailand-based BCPG Wind Cooperatief U.A. and subsequently establishing an equity partnership with Japan-based SMFL Mirai Partners Co. Ltd. through a 35 percent stake sale to accelerate wind asset development. Additionally, the company has broadened foreign joint ventures, collaborating with Japan's Kyuden International Corporation in PetroGreen Energy Corporation, bringing in Japan's Taisei Corporation as a 25 percent equity partner in Rizal Green Energy Corporation, advancing offshore wind project pipelines in Northern Luzon, Northern Mindoro, and East Panay with Denmark's Copenhagen Energy A/S, and entering procurement frameworks with Trinasolar for high-efficiency photovoltaic module supply.