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Manila Bulletin devider Business devider Yuchengco firm inks 10-year power supply deal with SN Aboitiz Power

Yuchengco firm inks 10-year power supply deal with SN Aboitiz Power

Published May 13, 2024 03:42 am

At A Glance

  • <br>The phase 1 of the San Jose solar development will be for 10.1MWdc; and this is slated for commercial operations date by early 2025; while phase 2 comprising of 9.5MWdc will be on-line fourth quarter next year.<br> 

A subsidiary of Yuchengco-led PetroGreen Energy Corporation (PGEC) has inked a 10-year power supply agreement (PSA) with SN Aboitiz Power Group (SNAP) for the supply of 15.6 megawatts (MWac) from the former’s solar facility in Nueva Ecija.

The corporate entity of the Yuchengco group which cemented the deal with SNAP, a joint venture between Norwegian firm Scatec (formerly SN Power) and Aboitiz Power, is its subsidiary San Jose Green Energy Corporation (SJGEC).

In a statement to the media, PetroGreen noted that the delivery of capacities to SNAP will commence next year, coinciding with the timeframe when the San Jose solar project comes on commercial stream.

PGEC President and CEO Francisco G. Delfin emphasized that the major power supply contract it cornered from SNAP “strengthens the viability of our 19.6 MWdc San Jose solar power project in Nueva Ecija, our first investment in the province.”

He narrated that the contract solidifies a continuing relationship with SNAP, which first contracted five-year power supply from the Yuchengco group since 2019 – and that was drawn from the conglomerate’s Tarlac-2 solar project.

Francisco asserted that the new PSA for the San Jose solar installation “testifies to the continuing mutually beneficial relationship between our companies and our shared commitment to enhancing the country’s energy security through renewable energy.”

The phase 1 of the San Jose solar development will be for 10.1MWdc; and this is slated for commercial operations date by early 2025; while phase 2 comprising of 9.5MWdc will be on-line by fourth quarter next year.

Currently, PetroGreen stated that “site development and transmission line works are currently ongoing,” for the initial phase of the San Jose solar project.

For SNAP President Joseph Yu, he sees the value of the PSA for capacity sourcing from the San Jose project as part of the company’s long term vision of embracing clean energy portfolios that it can utilize to serve its customers.

“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,” he stressed.

SNAP’s investment focus had been mainly on hydropower developments and pioneering on a floating solar installation; and it has been complementing that with capacity sourcing from solar generating assets. 

 

Related Tags

PetroGreen Energy Corporation SN Aboitiz Power solar PV Power supply agreement San Jose Solar
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