Politics

PetroGreen subsidiary inks 10-year supply deal with SNAP

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SAN JOSE Green Energy Corp. (SJGEC), a subsidiary of PetroGreen Energy Corp. (PGEC), has signed a supply contract with SN Aboitiz Power Group (SNAP).

SJGEC signed a 10-year contract with SNAP to supply the latter with 15.6 megawatts (MW) of alternating current from its renewable energy facilities, the company said in a statement on Monday. The contract will start next year, it added.

“This power supply agreement strengthens the viability of our 19.6-MWdc (direct current) San Jose Solar Power Project (SJSPP) in Nueva Ecija, our first investment in the province,” PGEC President and Chief Executive Officer Francisco G. Delfin, Jr. said.

The company said that the site development and transmission line works are ongoing for Phase 1 of SJSPP, with a capacity of 10.1 MWdc, which is slated for completion by early 2025.

The 9.5-MWdc Phase 2 is set to be on-line to the grid by the fourth quarter of 2025.

“This investment with PetroGreen for a long-term, renewable power supply aligns with our mission of providing Responsible Energy to our customers who share our commitment of championing sustainability and powering positive change for the country,” SNAP President Joseph Yu said.

PGEC, through its subsidiaries, has inked five power supply contracts with SNAP since 2019, according to Mr. Delfin.

PGEC is the renewable energy arm of publicly listed PetroEnergy Resources Corp. and is a joint venture with Kyuden International Corp., the overseas investment unit of Kyushu Electric Power of Japan.

It has investments in 32-MW Maibarara Geothermal Power Project in Batangas, 50-MW Nabas Wind Power Project in Aklan, and 70-MWdc Tarlac Solar Power Project in Tarlac.

SNAP is a joint venture between Aboitiz Power Corp. and Norwegian company Scatec. — Sheldeen Joy Talavera