YUCHENGCO-LED PetroGreen Energy Corp. (PGEC) on Monday said it signed a strategic cooperation agreement with Chinese wind turbine manufacturer Ming Yang Smart Energy Group Ltd. in Zhongshan, China.
The agreement establishes a framework for developing offshore wind projects in the Philippines, initially focusing on the planned 2-gigawatt (GW) Northern Luzon offshore wind project in Ilocos Norte. The project is being developed by PGEC affiliate Buhawind Energy Northern Luzon Corp. (BENLC).
Under the deal, PGEC and Ming Yang will conduct technical, logistical and economic studies covering suitable offshore wind turbine technologies, expected energy output, development approaches, and estimated project costs.
Ming Yang will also support training in offshore wind technology and development for engineering students, faculty, and other professionals in the Ilocos Region.
The two companies likewise discussed opportunities for broader cooperation in Philippine renewable energy, including battery energy storage systems, solar power, and related technologies.
PGEC is the renewable energy arm of listed PetroEnergy Resources Corp.
PetroEnergy shares closed unchanged at P4.77 apiece on Monday.
