PetroGreen Energy Corporation (PGEC) has signed a strategic cooperation agreement with Chinese wind turbine manufacturer Ming Yang Smart Energy Group to support the development of offshore wind projects in the Philippines, initially focusing on the planned 2 GW Northern Luzon Offshore Wind Project.
The agreement was signed on November 6 in Zhongshan, China, and establishes a framework for technical, logistical and economic cooperation between the companies.
It provides a framework for evaluating potential projects, with specific commercial and investment arrangements remaining subject to further discussions and separate definitive agreements.
The Northern Luzon Offshore Wind Project, located in Ilocos Norte, is being developed by PGEC's affiliate, Buhawind Energy Northern Luzon Corporation (BENLC).
Under the agreement, PetroGreen and Ming Yang will collaborate on studies assessing suitable offshore wind turbine technologies, expected energy production, development approaches and project costs.
Ming Yang will also support training and skills development in offshore wind technology for engineering students, faculty members and other professionals in the Ilocos Region.
The companies also discussed opportunities for broader cooperation in the Philippine renewable energy sector, including battery energy storage systems, solar power and related technologies.
PGEC is the renewable energy arm of publicly listed PetroEnergy Resources Corporation (PERC).
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