Danessa Rivera (The Philippine Star)
- May 2, 2018 - 12:00am
MANILA, Philippines — Phinma Energy
Corp., the listed power unit of the Phinma Group, is delving deeper into the
renewable energy sector as it ventures into solar rooftop development.
The company sees a bright future for
solar renewable energy. Apart from pursuing grid-connected solar projects, it is
also exploring off-grid solar applications.
It has formed subsidiary Phinma
Solar Energy Corp., which combines the expertise of Phinma’s energy and roofing
businesses.
Through the subsidiary, the group
will engage in solar power generation and develop solar products.
Initially, it will target solar
rooftop installations in the buildings of the Phinma Group.
“The first installations will be on
Phinma Education Network’s Cagayan de Oro College and University of Pangasinan,
the Information Center at Phinma Renewable Energy Corp.’s San Lorenzo wind farm
in Guimaras and Union Galvasteel Corp. in Calamba, Laguna,” Phinma Energy said.
So far, the company has secured two
solar energy service contracts for utility scale solar farms.
In July 2017, the company entered
into a 25-year solar energy service contract with the Department of Energy
covering a 648-hectare area in Bugallon, Pangasinan for a 45-megawatt (MW)
solar farm.
It also entered into another 25-year
solar energy service contract in September last year covering a 486 hectare
area in Padre Garcia, Batangas also for a 45-MW solar farm.
In terms of other renewable energy
technologies, Phinma Energy — through Phinma Renewable Energy —is eyeing to
develop more projects out of its portfolio of 400 MW of wind service contracts
nationwide.
Currently, it is in advanced
development activities for the 40-MW Sibunag wind farm project in Guimaras in
preparation for the implementation of the DOE’s on grid areas in 2020.
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