PetroEnergy Resources Corp

What PetroEnergy Resources Corp does

PetroEnergy Resources Corp (PSE: PERC) is a Philippine publicly-listed energy holding company controlled by the Yuchengco Group of Companies. Founded in 1996, the company develops, owns, and operates renewable energy power generation assets — primarily geothermal, solar PV, and onshore/offshore wind — alongside a residual upstream oil exploration business, through dedicated subsidiaries including PetroGreen Energy Corp (PGEC), Maibarara Geothermal Inc. (MGI), PetroSolar Corp (PSC), and Pacific Wind Energy International Corp (PWEI). The group's gross portfolio totals 1,303,663 kW, of which approximately 1,202,468 kW is operational, located primarily across Luzon and the Visayas.

The company's commercial model is anchored in long-dated, fixed-price Power Supply Agreements (typically 20 years) secured through the Department of Energy's Renewable Energy Service Contract (RESC) framework and Green Energy Auction (GEA) participation. Electricity is supplied under these contracts to a defined set of off-takers including SNAP, ISELCO-II, and IAMC, with residual exposure to the Wholesale Electricity Spot Market (WESM). Pricing is regulated under the Energy Regulatory Commission, and tariff visibility over the contract tenor is a defining feature of the revenue model. The company is not a software or data platform; its competitive position rests on regulatory entitlements, grid interconnection assets, and capital-intensive project execution supported by international equity and EPC partnerships with Kyuden International and Taisei Corporation of Japan.

Forward growth is concentrated in the commissioning of multiple solar and onshore wind assets (Bugallon Solar, Nabas-2 Wind, EcoSolar Panitan Solar) and the early-stage development of the Northern Luzon Offshore Wind project (~2 GW potential). Workforce development alliances with Mapua University and MMSU indicate deliberate capacity-building for project execution. Headcount is reported at 51–100 employees, consistent with an asset-heavy holding company structure that outsources significant construction and operations scope to EPC and O&M partners.

Name

PetroEnergy Resources Corp

Legal name

PetroEnergy Resources Corporation

Website

https://petroenergy.com.ph

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

51–100 employees

Short description

PetroEnergy Resources Corp is a Philippine publicly-listed energy holding company under the Yuchengco Group, operating approximately 1.2 GW of renewable energy capacity — geothermal, solar, and wind — supplying power to utilities and cooperatives under long-term PPAs.

Ownership category

akta.pro rank

Product category

Renewable Energy Power Generation

NAICS

Electric Power Generation (22111), Geothermal Electric Power Generation (221116), Wind Electric Power Generation (221115), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric, Gas & Sanitary Services (4900), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG)

akta.pro secondary industries

Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD), Development-Stage M&A & Portfolio Acquisition (Early-Stage/Ready-to-Build) (EUAMAAAF)

Keywords

• Renewable energy generation
• Geothermal power
• Solar power projects
• Wind power generation
• Upstream oil exploration

Headquarters

HQ city

Pasig

HQ country

Philippines

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain

Revenue model

1. Power Generation and Electricity Sales: Revenue from power generation and electricity supply through power purchase agreements and contracts. Projects operate under fixed 20-year tariffs as GEA-qualified facilities or through WESM participation.
2. Renewable Energy Project Development: Development and construction of renewable energy projects including solar, wind, and geothermal facilities. Revenue realized upon project completion and commercial operations commencement.
3. Wholesale Electricity Market (WESM): Commercial participation in the Wholesale Electricity Spot Market for spot sales of generated power alongside contracted PPA arrangements.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

PetroEnergy Resources Corporation (PERC) develops, owns, and operates renewable energy power generation assets in the Philippines — including geothermal, ground-mounted and rooftop solar, and onshore and offshore wind projects — and sells the generated electricity to electric distribution utilities, electric cooperatives, and commercial/industrial customers through long-term power purchase agreements and the Wholesale Electricity Spot Market (WESM). Through its subsidiary PetroGreen Energy Corporation (PGEC), it also operates the 32MW Maibarara Geothermal Power Facility, the 50MW Nabas Wind Power Project, and multiple utility-scale solar plants (Dagohoy, Bugallon, Limbauan, Panitan). The company additionally holds upstream oil exploration interests in the Philippines and Gabon.

Product overview

PetroEnergy Resources Corporation (PERC) is a publicly-listed Philippine energy company offering renewable energy development, power generation, and upstream oil exploration services. The company operates through its subsidiary PetroGreen Energy Corporation (PGEC), which holds one of the country's most diverse renewable energy portfolios including geothermal (via Maibarara Geothermal Power Facility), ground-mounted solar (Dagohoy, Bugallon, Limbauan, Panitan projects), rooftop solar, and wind power (Nabas Wind Project). PERC also maintains upstream oil interests in the Philippines and Gabon. The company provides power generation and electricity supply through power purchase agreements. Corporate social responsibility is delivered through We Power H.E.L.P. (Health, Education, Livelihoods, Programs) and We Power C.A.R.E. (Conservation, Awareness, Restoration, Ecotourism) programs. Total installed capacity is 1,303,663kW with 1,202,468kW currently in operation. The company celebrates 30 years of operations in 2026.

Differentiator

Problem solved

Functional benefit

Products and services

• Renewable Energy Development End-to-end development of renewable energy projects including geothermal facilities, utility-scale solar farms, rooftop solar installations, and wind power projects across the Philippines. Delivered through PGEC and its project subsidiaries for sale via PPAs and WESM.
• Power Generation Operation of power generation facilities and supply of electricity to the Philippine grid under long-term Power Purchase Agreements and through WESM participation.
• Upstream Oil Exploration Participating interests in upstream oil and gas assets in the Philippines and Gabon, West Africa, focused on oil and gas exploration activities.
• Maibarara Geothermal Power Facility (MGPF) 32MW geothermal power facility located in Sto. Tomas, Batangas, providing baseload renewable supply with a compact design and minimal environmental footprint. Jointly owned via MGI with ACEN and PNOC-Renewables Corporation.
• Nabas Wind Power Project 50MW onshore wind power project in the municipalities of Nabas and Malay in Aklan, Panay, operated by PetroWind Energy Inc. (PWEI) and connected to the Boracay-Caticlan-Nabas transmission line.
• Dagohoy Solar Power Project (DSPP) 27.121 MWDC solar power plant in San Vicente, Dagohoy, Bohol — the first large utility-scale solar plant in Bohol province. Part of the 111.58 MWDC portfolio under Rizal Green Energy Corp (PGEC–Taisei JV). P1.2 billion investment, with offtake by SN Aboitiz Power (SNAP).
• Bugallon Solar Power Project (BSPP) 25 MWDC utility-scale solar project in Pangasinan operated by Bugallon Green Energy Corporation (BGEC), part of the 111.58 MWDC Rizal Green Energy Corp portfolio. Generates approximately 41,000 MWh annually and reduces carbon emissions by 29,056 metric tons.
• Limbauan Solar Power Plant (LSPP) 40 MWDC solar power plant in San Pablo, Isabela developed by BKS Green Energy Corporation (BKSGEC), part of the Rizal Green Energy Corp portfolio. Generates approximately 59 GWh annually, powering ~33,000 households and avoiding 31,700 metric tons of CO2 annually.
• Panitan Solar Power Project (PSPP) 98.20 MWDC ground-mounted solar project in Capiz province being developed by EcoSolar Energy Corporation (ESEC), a unit of PGEC. Will be PGEC's largest solar facility when completed and includes an agrivoltaics component supporting food and energy security.
• Isuzu Laguna Rooftop Solar Project 3.002 MWp rooftop solar installation at Isuzu Autoparts Manufacturing Corporation's (IAMC) manufacturing facility in Laguna. PGEC installs, owns, and operates the system supplying clean energy to IAMC. Expected to generate ~4,000 MWh annually and cut carbon emissions by ~3,000 metric tons per year.

Quantifiable outcome

• 41,000 MWh annual generation with 29,056 metric tons CO2 reduction from Bugallon Solar Project
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered minor and core.

• Mapúa UniversityminorStrategic or Co-development Partner · 20 November 2025Academic partnership for workforce development program with Buhawind Energy Northern Luzon Corporation (BENLC) for offshore wind project development in Ilocos Norte, supporting skills enhancement and local workforce education.
• Mariano Marcos State University (MMSU)minorStrategic or Co-development Partner · 20 November 2025Academic partnership for workforce development program with BENLC for offshore wind feasibility studies and capacity building in Ilocos Norte region.
• Isuzu Autoparts Manufacturing Corporation (IAMC)coreChannel Partner/ Reseller/ Distributor · 23 July 2024Contract signed July 23, 2024 for installation of 3.002 MWp rooftop solar project at IAMC's manufacturing facility in Laguna. PGEC to install, own, and operate the system supplying clean energy to IAMC.
• Kyuden International Corporation (KIC)coreStrategic or Co-development PartnerKIC is the overseas investment arm of Japan's Kyushu Electric Power Company. Joint venture partner with PERC in PetroGreen Energy Corporation (PGEC), holding stakes in geothermal, solar, and wind projects across the Philippines. Partners include PGEC (50% KIC), San Jose Green Energy Corporation, and EcoSolar Energy Corporation.
• Taisei CorporationcoreStrategic or Co-development PartnerJapanese construction and engineering firm, joint venture partner with PGEC in Rizal Green Energy Corporation (RGEC) for utility-scale solar projects including 111.58 MWDC portfolio of four solar projects (Bugallon, Dagohoy, San Jose, Limbauan).
• ACENcoreStrategic or Co-development PartnerACEN is a partner in Maibarara Geothermal Inc. (MGI), co-investing in the 32MW Maibarara Geothermal Power Facility in Sto. Tomas, Batangas alongside PGEC and PNOC-Renewables Corporation.
• PNOC-Renewables CorporationcoreStrategic or Co-development PartnerPNOC-RC is a partner in Maibarara Geothermal Inc. (MGI), co-investing in the 32MW Maibarara Geothermal Power Facility. PGEC is a joint venture between PERC and Kyuden International.
• Central Luzon State University (CLSU)minorStrategic or Co-development PartnerAcademic partner for SJGEC's Agri-Photovoltaics research project. Parallel studies conducted with CLSU to assess effects of agrivoltaics on solar power generation efficiency and agricultural crop yields.
• Global Wind Energy Council (GWEC)minorStrategic or Co-development PartnerInternational wind energy association supporting BENLC's offshore wind development efforts and workforce development program in collaboration with Royal Embassy of Denmark.
• UPLB (University of the Philippines Los Baños)minorStrategic or Co-development PartnerAcademic partner for We Power C.A.R.E. biodiversity conservation program, including adoption of critically endangered Kapa-kapa (Medinilla magnifica) plant species under 30-year conservation initiative.
• Royal Danish EmbassyminorStrategic or Co-development PartnerSupporting BENLC's offshore wind development through GWEC partnership and knowledge-sharing initiatives for responsible renewable energy development in the Philippines.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• ACEN Corporation: PSE-listed Philippine renewable energy developer and IPP with a multi-GW portfolio across solar, wind, and geothermal. ACEN is the most direct listed comparable in the Philippine RE market, with overlapping customer base (utilities, electric cooperatives) and PPA-driven revenue model.
• Energy Development Corporation (EDC): Largest Philippine geothermal power producer and a major RE developer, now part of First Gen group. Directly comparable on the geothermal/RE IPP business and on Philippine baseload renewable generation, though EDC is significantly larger and more established.
• Vivant Corporation: PSE-listed Philippine energy holding company with investments in power generation and distribution across the Visayas and Mindanao. Comparable as a Philippine-focused multi-technology power company, though smaller in RE-specific capacity.
• Aboitiz Renewables Inc. Renewables-focused subsidiary of Aboitiz Power developing and operating solar, wind, run-of-river hydro, and geothermal in the Philippines. Closely comparable on project development, GEA participation, and PPA structuring.
• MGen (Meralco PowerGen Corporation): Power generation arm of Manila Electric Company (Meralco) with a growing RE portfolio in the Philippines. Comparable as a Philippine RE IPP/developer serving the same utility and cooperative customers via PPAs; backstopped by the largest Philippine distribution utility.

Broad incumbents

• First Gen Corporation: One of the largest Philippine RE power producers with geothermal, hydro, wind, and solar assets. Comparable in technology mix and customer base; broader incumbent with significantly larger scale and longer operational history.
• Aboitiz Power Corporation: PSE-listed, large diversified Philippine power company with substantial renewable (hydro, geothermal, solar, wind) and thermal generation. Operates in the same PPA/utility-customer ecosystem as PERC, but at much greater scale across the value chain.

Emerging players

• SP New Energy Corporation (SPNEC): PSE-listed emerging Philippine solar developer with utility-scale projects in the pipeline. Comparable on RE project development and GEA participation, but with a narrower technology focus (solar) and earlier-stage asset base.
• Solar Philippines: Largest solar developer in the Philippines by pipeline, operating across utility-scale and rooftop C&I solar. Comparable on solar project development, C&I rooftop installations (similar to PERC's Isuzu deal), and GEA participation, but with a solar-only focus.
• Citicore Renewable Energy Corporation (CREC): PSE-listed Philippine solar developer with utility-scale and rooftop solar projects. Comparable on utility-scale solar development and C&I rooftop installations, though with a narrower technology mix than PERC's diversified geothermal/solar/wind portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/beantownthemes
• Facebookfacebook.com/beantown-themes-653197714728193
• LinkedInlinkedin.com/company/petroenergy-resources-corporation

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PetroEnergy Resources Corp