Japan's Taise Corp. invest in petrogreen unit in ph

Business.(Business File photo)

TAISEI Corp. (Taisei), one of Japan’s biggest general contractors, signed on April 23, 2024, an investment framework and shareholders agreements with Yuchengco-led PetroGreen Energy Corp. (PGEC) to take a 25 percent equity stake in PGEC’s subsidiary Rizal Green Energy Corp. (RGEC).

The investment covers the funding, construction and operation of an initial portfolio of four solar power facilities, including the 41MWdc Limbauan project in Isabela, the 25MWdc Bugallon project in Pangasinan, the 19.6MWdc San Jose project in Nueva Ecija, and the 27MWdc Dagohoy solar project in Bohol.

Although Taisei has been in the Philippines since 1982 operating as a general contractor mostly on official development assistance-funded infrastructures, the partnership deal with the Yuchengco-led firm is its first equity investment in renewable energy outside Japan.

Founded in 1873, Taisei is among Japan’s top 5 general contractors building ports and harbors, bridges and tunnels, power stations, industrial complexes and commercial buildings in over 65 countries.

In fiscal year 2022, Taisei Group recorded total net sales of US$12.3 billion. / PR


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