Yuchengco-led PetroGreen Energy Corp. (PGEC) is moving another solar investment into its revenue-generating stage after securing the final regulatory clearance for its 25-megawatt peak (MWp) Bugallon Solar Power Plant in Pangasinan.
The Energy Regulatory Commission (ERC) granted the facility a Certificate of Compliance (COC) dated 19 August, which cleared the way for commercial operations and brought the project closer to receiving guaranteed payments under the government's green energy auction program.
PGEC said on Tuesday that the COC completes the regulatory requirements necessary for the Bugallon plant to begin commercial operations.
The clearance follows approvals from the National Grid Corp. of the Philippines and Central Pangasinan Electric Cooperative for the project's grid connection on 22 July after completing its commissioning tests.
“With the issuance of the COC, the facility can now commence commercial operations and proceed with its applications for a Certificate of Endorsement for the Green Energy Tariff with the Department of Energy and for a Renewable Energy Payment Agreement with TransCo, as the facility is an eligible project under the Green Energy Auction Program Round 2 (GEA-2).
Upon commercial operations, BSPP is expected to generate a stable revenue stream through fixed and guaranteed payments from TransCo,” PGEC Assistant Vice President for Power Markets Dave P. Gadiano said.
The Bugallon facility is part of a 111.6-MWp renewable energy portfolio being developed by Rizal Green Energy Corp. (RGEC), a joint venture between Yuchengco-led PGEC and Japan's Taisei Corp.
Bugallon Green Energy developed and operates the Pangasinan solar facility under RGEC's broader 111.6-MWp portfolio.
RGEC is now moving toward commercializing the last remaining project in that portfolio.
The company is set to begin commissioning tests for the 6-MWp first phase of the Limbauan Solar Power Project in San Pablo, Isabela.
Once commercialized, Limbauan would complete the rollout of RGEC's 111.6-MWp portfolio.
