PetroEnergy 2025 profit falls to P618M

MANILA, Philippines — Yuchengco-led PetroEnergy Resources Corp. (PERC) saw its earnings drop by 30 percent in 2025, as it recorded higher financing costs tied to renewable energy expansion.

In a disclosure Thursday, the company said its consolidated net income had decreased to P618.33 million from a year ago’s P881.41 million.

This, as the group posted higher interest expenses amounting to P652.66 million following its boosted spending for new renewable energy projects.

Total revenues, meanwhile, went up to P3.72 billion from P3.45 billion. This was driven by an 11.45-percent jump in power sales, which hit P3.13 billion from the previous P2.8 billion.

READ: PetroEnergy 2024 profit surges 89% to P881M

Growth driver

The group said the improvement in electricity sales was driven by the activation of several new solar power plants. It also cited the expansion of its 13.2-megawatt (MW) Nabas-2 Wind Power in Aklan, the full-year generation of its 27-MW Dagohoy Solar Power plant in Bohol, and the 19.6-MW San Jose Solar Power Project in Nueva Ecija.

Phase 2 of the 40-MW Limbauan Solar Power project in Isabela also gave a small lift to the overall clean energy output of PERC.

READ: PERC secures gov’t nod for two solar projects

“Looking ahead, PERC remains focused on completing key projects in its renewable energy pipeline, including the commercial operations of its solar assets in Bugallon and Isabela, and the completion of the Panitan Solar and battery energy storage system in Capiz, which is now under development,” it said.

Meanwhile, the company booked a 20.24 percent decline in oil revenues to P415.09 million due to weaker crude oil prices and reduced production from Gabon operations. /dda