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Manila Bulletin devider Business devider Yuchengco firm to invest in Bohol solar project

Yuchengco firm to invest in Bohol solar project

Published Sep 27, 2022 04:05 pm

Yuchengco-led PetroGreen Energy Corporation (PGEC) is all set to start construction of its proposed 27-megawatt dc solar farm investment to be sited in Barangay San Vicente in the municipality of Dagohoy in Bohol.

The company said it is now gaining traction on its project implementation following the symbolic laying of a capsule containing the conceptual design of the facility, which was held at the project site on Tuesday, Sept. 27.

The company has not divulged the scale of capital outlay it will cough up for the solar farm installation, but the current investment rule of thumb for this technology is roughly $700,000 to $800,000 per megawatt.

PGEC emphasized that the Dagohoy solar power project (DSPP) will be developed in a 22-hectare site and will be equipped with 61,200 solar panels.

Maria Victoria M. Olivar, assistant vice president for Operations of PGEC, noted that once the facility reaches commercial operation, “we expect DSPP to produce approximately 36 gigawatt-hours of electricity annually, enough to serve around 15,000 households.”

She conveyed that the project sponsor-firm is currently “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.”

For the host local government unit in Dagohoy, Mayor Hermie Relampagos labeled the project as “a game-changer” that can help transform their town.

Citing Dagohoy’s present classification as 5th class municipality, the local leader asserted that “we know that projects such as DSPP, will bring socio-economic benefits that can help our people.”

On that sphere then, Relampagos stated that “we are ready and willing to extend all the help and support we can give to make this successful, because this is a project that the people of Dagohoy can be proud of.”

Additionally, Bohol Governor Aris Aumentado highlighted that “this project is very much aligned with our vision of Green Bohol,” given the fact that DSPP will not be having greenhouse gas emissions.

“One of our priorities is a stable, reliable, and affordable power supply, which is key to making Bohol more attractive for investors, sustaining a lively tourism industry, and ensuring the province’ continuous economic growth,” the governor stressed.

The Yuchgenco firm has been giving sharp focus on renewable energy (RE) investments not just in the solar space, but also in geothermal as well as onshore and offshore wind farm developments.

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