Tarlac solar plant of Philippines grants COE-FIT

Tarlac projectMar 11, 2016 – PetroSolar Corporation (PetroSolar) was granted the Certificate of Endorsement-Feed-in-Tariff (COE-FIT) for its 50 MW solar plant Tarlac from the Department of Energy (DOE) of Philippines on March 9, parent company PetroEnergy Resources Corp. (PERC) said in a statement. This was the last document necessary to get a Certificate of Compliance-FIT (COC-FIT) from the Energy Regulatory Commission (ERC).

The inauguration ceremony took place earlier on March 3, the first electricity was transmitted to the Luzon power grid in late February. The ceremony was led by the former president of the national University of Philippines and an active Senator Edgardo Angara who was one of the key supporters of the 2008 Renewable Energy Act. In his message Sen. Angara called for cooperation to expand the renewable energy sector of the country and added that “the Philippines are blessed with a great number of renewable energy sources as well as talented people. All that is needed for the further development of the ecologically clean and climate-friendly energy is state and public support, and additional investment sources.” He also stressed that “electrical power is not just light or Internet connection, but this is the wealth of the future generations. This exact segment of economy will be able to decrease poverty and provide the people of the country with major necessities.”

PetroSolar is the property of the publicly-listed PetroEnergy Resources Corporation throgh its division, PetroGreen Energy Corporation (56%), and EEI Power Corporation (44%), a division of EEI Corporation.