PetroEnergy unit secures DoE endorsement for offshore wind projects

YUCHENGCO-LED PetroEnergy Resources Corp. (PERC) has secured key government approvals for its energy projects with a combined capacity of 4 gigawatts (GW), allowing the company to fast-track the projects’ development.

In a stock exchange disclosure on Wednesday, PERC said the Department of Energy (DoE) had granted the Certificate of Energy Project of National Significance to its Northern Luzon Offshore Wind Project, led by Buhawind Energy Northern Luzon Corp. (BENLC), which has a capacity of 2,000 megawatts (MW).

BENLC is a partnership between PERC’s renewable energy arm, PetroGreen Energy Corp., and Copenhagen Energy Group (CE).

The company’s other offshore wind projects — the 1-GW Northern Mindoro and 1-GW Eastern Panay offshore wind projects — have also secured the Certificate of Energy Project of National Significance.

Projects certified as energy projects of national significance are eligible for expedited permitting and review processes from both local and national government agencies.

“Projects granted with Certificate of Energy Project of National Significance are those validated by the DoE as having significant capital investments and will lead to greater energy security and broader economic, environmental, and technological benefits for the country,” PERC said.

Further, the 2-GW Northern Luzon Offshore Wind Project located in Ilocos Norte has also received its Certificate of Registration from the Bureau of Customs as an accredited importer, valid for one year — a key requirement for the importation of equipment, tools, and machinery for the project’s pre-development studies and construction.

PERC is aiming to increase its generation capacity to 500 MW by 2029 from its current 145 MW. — Ashley Erika O. Jose