Trans-Asia plans expansion of Guimaras wind farm

TRANS-ASIA Renewable Energy Corp. (TAREC) plans to expand its wind farm project on Guimaras Island by 40 megawatts (MW) as soon as the Energy department releases a new installation target for wind energy, a company official said. “We have an expansion within Guimaras,” Danilo L. Panes, TAREC vice-president, told reporters on Friday as the company…

Coal plants face challenges with Lopez

New coal power plant projects are facing uncertainties following the appointment of Regina Lopez as the new Environment secretary, an industry executive said Thursday.  President-elect Rodrigo Duterte named Lopez as the new head of the Environment Department, which is in charge of issuing environmental compliance certificates to new power projects.  The coal plants are also…

Drilling begins at Mabini geothermal project

The consortium operating the Mabini geothermal project in Batangas and composed of Basic Energy Corp. and Trans-Asia Oil and Energy Development Corp. has started drilling an exploratory well with a minimum depth of 1,500 meter, which will determine the steam resource available in the service contract.  The consortium said drilling will take about three months…

ERC forms 2 divisions to speed up price collusion probe

The ERC has formed two divisions for a speedy decision-making on the cases of 12 power players that withheld power supply in December 2013 which resulted in record high increase in electricity rates. Currently pending is the decision on the 13 complaints from the ERC-Investigating Unit in violation of Section 45 of Republic Act No. 9136 pertaining…

Trans-Asia 1Q net profit quadruples

Trans-Asia Oil and Energy Development Corp., the energy arm of the Phinma Group, more than quadrupled its first quarter net profit following the improvement in electricity sales volume from its power projects and contributions from joint ventures.  Read more here.

Trans-Asia and Guimelco ink backup power supply deal

Trans-Asia Oil and Energy Development Corp. has inked a long-term back-up power supply deal with Guimaras Electric Cooperative Inc. (GUIMELCO) that is seen to result in lower electricity tariff in the area.  Read more here.