PETROENERGY Resources Corp. unit EcoSolar Energy Corp. has completed the construction of the Panitan Energy Storage Project in Capiz.
In a statement on Friday, PetroEnergy said the facility was finished in just seven months and would now proceed to testing and commissioning as soon as government approvals were released.“This milestone comes at a time when power shortfalls and grid instability in the Visayas continue to affect businesses and residents,” EcoSolar President F. G. Delfin Jr. said during a ceremony held at the project site in Panitan, Capiz.When completed in the fourth quarter, the project is expected to help in responding quickly to grid fluctuations, minimize power interruptions and provide local reserve power, reducing reliance on costly diesel generation or distant power sources.Energy Undersecretary Mario Marasigan said the project should help stabilize the Panay-Guimaras-Negros grid by storing excess energy during periods of surplus generation and supplying it when demand increases or generation declines.“More importantly, the project also supports the integration of renewable energy sources such as solar and wind, ensuring a steadier and more dependable electricity supply for the people and businesses of Capiz,” he added.During the ceremony, EcoSolar was also formally awarded the service contract to develop the 90-megawatt direct current Panitan Solar Power Project, which is expected to be completed by the end of 2028.EcoSolar is a special purpose company of PetroGreen Energy Corp., the renewable energy arm of listed PetroEnergy Resources, whose shared edged up by P0.03, or 0.86 percent, to P3.50 each on Friday.
