PetroEnergy buys out Thai partner in wind venture

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December 20, 2025 | 12:00am

MANILA, Philippines — Yuchengco-led PetroEnergy Resources Corp. (PERC) is set to fully assert control over its wind power venture by acquiring the 40-percent stake held by Thailand’s BCPG Public Co. Ltd.

The move comes after PERC executed a share purchase agreement (SPA) with BCPG unit BCPG Wind Cooperatief U.A. to acquire the latter’s entire equity interest in Petro-Wind Energy Inc. (PWEI).

Financial details were not immediately made available.

Upon the deal’s closing, PERC’s effective ownership in PWEI will increase to 90 percent, with 60 percent held directly and 30 percent indirectly through majority-owned subsidiary PetroGreen Energy Corp. (PGEC).

PERC and PGEC, both part of the Yuchengco Group of Companies, currently hold 20 and 40 percent direct interests in PWEI, respectively.

“The acquisition is consistent with PERC’s strategy to simplify its ownership structure and increase its direct economic participation in its renewable energy portfolio,” PERC said in a stock exchange filing yesterday.

The SPA is subject to customary closing conditions, including the completion of all conditions precedent and the securing of necessary regulatory approvals.

“The transaction represents the acquisition of the remaining non-controlling interest in PWEI and will not result in a change in control or consolidation status,” PERC said.