DAGOHOY Green Energy Corp. (DGEC), a special purpose vehicle of PetroEnergy Resources Corp. (PERC), has energized its 27-megawatt-peak Dagohoy Solar Power Project (DSPP).

DSPP, considered the first utility-scale solar power plant in Bohol, consists of more than 40,000 solar panels installed on a 22-hectare site, the company said in a statement on Thursday.

“In 2022, when we ceremonially broke ground for DSPP, we made a commitment to Boholanos that we will provide the province access to clean and reliable energy. Today is the realization of that promise,” said DGEC President Francisco G. Delfin, Jr.

The P1.17-billion solar power project is expected to produce 41,000 megawatt-hours of power per year, enough to power more than 18,000 homes and contribute to the grid stability of the region.

“The province’s rising power consumption, driven by tourism-related infrastructures and businesses, has long been met by imported power from neighboring islands and aging diesel plants,” DGEC said.

Bohol Governor Erico C. Aumentado said that the Dagohoy solar farm is “a significant leap towards energy independence” for the province and aligns with its vision of “inclusive growth and development.”

DGEC is one of four renewable energy special purpose vehicles under Rizal Green Energy Corp. The latter is a joint venture between Japan’s Taisei Corp. and PetroGreen Energy Corp., a member of the Yuchengco Group of Companies.

At the local bourse on Thursday, PERC shares climbed by 1.11% to close at P3.65 each. — Sheldeen Joy Talavera