PetroEnergy to invest in 10 MW expansion of Maibarara plant
PetroEnergy Resources successfully raised up to $13 million for renewable energy projects.
Petroenergy Resources Corp. plans to invest up to $13 million raised in recent rights issue for renewable energy projects in the Philippines and Africa.
Among the three projects, is the 10 MW expansion of the Maibarara geotheraml power plant. The company — through PetroGreen Energy Corp. (PGEC) — has a 65% interest in Maibarara Geothermal, Inc., the owner and operator of the 20-MW geothermal plant in Sto. Tomas, Batangas.
Source: Business World Online