Core Insights - PetroEnergy Resources Corp.'s subsidiary, Bugallon Green Energy Corp., secured a loan facility of P826 million from Rizal Commercial Banking Corp. (RCBC) to develop a solar project in Bugallon, Pangasinan [1] - The Bugallon solar power project will have a capacity of 25.01 megawatt-direct current (MWdc) and is expected to generate around 36 gigawatt-hours annually, sufficient to power over 15,000 households and reduce carbon emissions by approximately 25,000 metric tons per year [2] - The financing is part of RCBC's Sustainable Finance Framework, emphasizing the bank's commitment to supporting climate-resilient developments and sustainable economic growth [2][3] Company and Industry Summary - The loan will fund the Bugallon solar power project, which is a significant step towards increasing the country's power supply from indigenous energy sources [3] - Bugallon Green Energy is a joint venture between PetroGreen Energy and Japan's Taisei Corporation, highlighting international collaboration in renewable energy projects [3] - PetroEnergy Resources shares last traded at P3.20 per share on October 29, 2025, indicating the company's market performance at that time [4]
PERC signs P826M loan to develop solar project
The Manila Times·2025-11-03 16:21