PNOC Renewables Corporation (PNOC RC) is a fully owned subsidiary of state-owned Philippine National Oil Company (PNOC). Organized in March 7, 2008, it is the newest subsidiary of PNOC. PNOC RC is the primary vehicle of PNOC in promoting, developing and implementing new and renewable energy sources in the country. Through renewable energy, the country would be able to reduce its dependence on imported oil, while mitigating climate change. Renewable energy is an important component in the country's drive towards energy self-sufficiency, security and independence.