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Jul 14, 2016 @ 9:56

PetroSolar wins FiT certification

 

PETROSOLAR CORP. has obtained a certificate of compliance from the regulator, securing eligibility to the guaranteed feed-in-tariff (FiT) rate of P8.69 for each kilowatt-hour (kWh) of electricity it exports to the power grid for 20 years.

In a statement, the company said the certificate for PetroSolar’s 50 megawatt (MW) peaking plant at the Central Technopark in Tarlac City was approved by the Energy Regulatory Commission (ERC) on July 12, 2016.

The Tarlac-1 solar facility, which covers 55 hectares of industrial land, is the first solar energy plant of PetroSolar Corp., a joint venture firm that is 56%-owned by PetroGreen Energy Corp. and 44%-owned by EEI Power Corp. PetroGreen is the renewable energy holding company of publicly listed PetroEnergy Resources Corp.

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