AKLAN, Philippines — Renewable energy developer PetroWind Energy Inc. (PWEI) has finalized a 20-year agreement ensuring a fixed revenue stream for electricity generated by its wind power facility in Aklan, providing long-term market stability as new power generation capacity joins the Visayas grid.
The Yuchengco-backed company signed a Renewable Energy Payment Agreement (REPA) with the state-run National Transmission Corp. (TransCo) for the output of its 13.56-megawatt Nabas Wind Power Project Phase 2.
Under the contract terms, the expansion plant will supply electricity at a fixed Green Energy Tariff rate of ₱5.7555 per kilowatt-hour over the next two decades.
The pact seals the tariff rate previously won during the Department of Energy’s inaugural Green Energy Auction Program (GEA-1) in 2022.
By securing this guaranteed pricing framework, PWEI insulates the facility from fluctuations in the wholesale electricity spot market while helping reinforce the local energy supply.
Highlighting the importance of the agreement, PWEI Executive Vice President for Operations Francisco Delfin Jr. noted:
”The signing of the REPA represents a key milestone in the company’s near-term expansion plans in the area.”
Delfin added that Nabas 2 serves as the initial phase among three planned developments intended to bolster regional energy reserves and maintain power grid stability in the Visayas.
Following the wind project, PWEI plans to bring the 20-MW / 40-megawatt-hour Panitan Battery Energy Storage System into commercial operation by late 2026. The firm then intends to complete the 90-MWdc Panitan Solar Power Project, targeting full integration into the Visayas regional grid by mid-2028.
The milestone arrives as PWEI’s parent entity, PetroEnergy Resources Corp. (PERC), reports continued financial growth. PERC posted a 7.3 percent increase in first-half consolidated net profit, reaching ₱498 million.
Corporate management attributed the profit rise primarily to expanded output from its clean energy portfolio, alongside steady revenue gains from its crude oil operations.