Yuchengcos build new solar power plant in Bohol

PetroGreen Energy Corp., the renewable energy arm of Yuchengco-led PetroEnergy Resources Corp. (PERC), launched its planned 27 megawatts of direct current (MWDC) Dagohoy solar power project (DSPP) in a 22-hectare site in Bohol.

The project will use 61,200 solar panels and once operational, DSPP is expected to produce 36 gigawatts per hour of electricity annually, enough to serve around 15,000 households,” PGEC assistant vice president for operations Maria Victoria M. Olivar said.

“At present, PGEC is completing all the necessary pre-development permits… Barring any delays, we expect to complete and commercially operate the solar power facility by fourth quarter of 2024, at the earliest,” Oliver added.

As a solar power project, DSPP will have no greenhouse gas emission and is considered to be cleaner and more environment-friendly than fossil-fired power plants.

PGEC holds interests in the 32 MW Maibarara geothermal power project (MGPP) in Batangas, 36 MW Nabas-1 wind power plant in Aklan, and the 70 MWdc Tarlac solar power project.

Opec+ likely to maintain oil output levels

Major oil-producing countries led by Saudi Arabia and Russia look set to maintain their current output levels at a meeting Sunday, ahead of fresh sanctions against Moscow coming into force.