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Taisei Corp., a Japan-based general contractor, is investing in one of the subsidiaries of the Yuchengco Group’s PetroEnergy Resources Corp. (PERC).
Taisei signed investment framework and shareholders agreements with PERC unit PetroGreen Energy Corp. (PGEC) to corner a 25-percent equity stake in Rizal Green Energy Corp. for an undisclosed amount, PERC said in a disclosure on Wednesday.
PERC said this is Taisei’s first equity investment in renewable energy outside Japan although it has been operating as a general contractor in the Philippines since 1982, mostly in official development assistance-funded infrastructures.
Taisei’s investment covers the funding, construction and operation of an initial portfolio of four solar power facilities: the 41-megawatt Limbauan project in Isabela province, the 25-MW Bugallon project in Pangasinan, the 19.
