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PetroEnergy Resources Corp. (PERC), the renewable energy arm of the Yuchengco Group, has gained crucial government clearance to accelerate 4 gigawatts (GW) worth of energy ventures.
The Department of Energy (DoE) has granted Certificates of Energy Project of National Significance (CEPNS) to PGEC’s three major offshore wind initiatives.
Among the endorsed ventures is the flagship 1.98-GW Northern Luzon Offshore Wind Project in Ilocos Norte, scheduled to begin operations by 2030.
The .990-GW Northern Mindoro and .990-GW East Panay offshore wind projects, which are targeting operations in 2031 and 2033, respectively, are also certified.
All three projects are being developed under Buhawind Energy Northern Luzon Corp. (BENLC), a joint venture between PGEC and Denmark-based Copenhagen Energy Group.
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Fast-track status
DoE grants the CEPNS to ventures deemed vital to national interests—typically those involving large-scale investments and promising broad contributions to energy reliability, economic growth, environmental sustainability, and technological progress.
With a combined estimated cost nearing P700 billion, the three offshore wind projects now enjoy fast-tracked and prioritized permit processing across all relevant government agencies, including local authorities and state-owned firms, thanks to their CEPNS designation.
Louie Mark Limcolioc, head of corporate and legal affairs at Buhawind Energy Northern Luzon Corp. (BENLC), expressed optimism over the DOE’s recent endorsement. “We welcome the DOE’s CEPNS award for our offshore wind ventures with CE which should expedite the processing of all other permits, especially for our priority Northern Luzon offshore wind project, by other government agencies,” he said.
Additionally, BENLC has secured accreditation from the Bureau of Customs as a registered importer, a critical step in advancing its offshore wind project in Ilocos Norte. The certificate, granted on April 28, allows the company to bring in essential equipment and materials needed for the project’s early studies, construction, and future operations.
Though valid for one year, the registration is renewable as long as importation remains necessary throughout the project’s development phases.
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Company background
Established in 2010, PetroGreen Energy Corp. serves as the renewable energy platform of PetroEnergy Resources Corp., which holds a 90% stake in the company. Through a network of subsidiaries and affiliates—including Maibarara Geothermal Inc., PetroSolar Corp., and PetroWind Energy Inc.—PetroGreen is engaged in various clean energy ventures.
Parent firm PetroEnergy also maintains interests in upstream oil exploration, with operations extending as far as Gabon in West Africa.
Meanwhile, the Copenhagen Energy Group brings extensive experience in the renewable energy space, having developed over 1 gigawatt of solar, onshore, and offshore wind projects. The company is steadily growing its project pipeline across strategic European markets, including Sweden, Denmark, and Germany.
PERC is targeting a more than threefold boost in power generation, with plans to scale up its capacity from 145 megawatts to 500 megawatts by 2029.
Sources:
https://businessmirror.com.ph/2025/05/07/pgec-secures-cepns-for-offshore-wind-projects