Japan’s Taisei takes 25% stake in PGEC unit

Taisei Corp., one of Japan’s biggest general contractors, signed an investment framework and shareholders agreement with PetroGreen Energy Corp. to take a 25-percent equity stake in the latter’s subsidiary Rizal Green Energy Corp. .

This includes the 41-MW Limbauan project in Isabela, the 25-MW Bugallon project in Pangasinan, the 19.6-MW San Jose project in Nueva Ecija and the 27-MW Dagohoy solar project in Bohol. “We are honored that Taisei Corp. has chosen the Philippines to make its first overseas equity investment in RE. Following on the 2022 partnership we forged with Kyuden International Corp., Taisei’s entry not only validates PGEC’s performance and integrity as an RE developer and partner but also testifies to the vastly improved energy investment climate in the country under the present administration,” PGEC chair Milagros Reyes said.

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