Manila Times.net Published : Wednesday, July 27, 2011 00:00 Written by :
TRANS-ASIA Oil and Energy Development Corp. has entered a deal with an Aussie firm for the possible development of a waste-heat power plant in the country.
In a disclosure to the Philippine Stock Exchange, Trans-Asia said that it signed a memorandum of agreement with Geopower Energy Ltd. of Australia and Thor Energy Ph. Inc. (Philippines) for a “joint assessment of opportunities” in waste-heat resources.
Under the agreement, the two firms plan to build a power plant that can run on excess heat produced by large diesel generators, cement plants, glass plants, smelters, natural gas compression stations, among others.
Fransisco Viray, Trans-Asia president said the capacity of the power plant from waste-heat technology would depend on the scale of the facility where it would draw its fuel from.
“The plant capacity would depend on the specifics of the host facility,” he said.
The technology produces no emissions by using temperature differences from existing industrial facilities to manipulate chemicals in order to run turbines that generate electricity.
Trans-Asia is a unit of the Phinma Group. The company earlier tied up with Ayala Corp.’s wholly owned subsidiary, AC Energy Holdings Inc. (formerly Michigan Power Inc) for the construction and operation of a coal plant in Batangas.
Trans-Asia is also pursuing wind energy projects with potential capacity of 350 megawatts, which will make it one of the largest wind developers in the country today.
Earlier, Trans-Asia signed a partnership with AC Energy Holdings Inc. for the construction of a 135-megawatt circulating fluidized bed thermal power plant in Calaca town in Batangas.
Construction of the plant would begin in September, with operations set to begin in 2014.
Trans-Asia recently completed a P1.17-billion stock rights offering to partly finance the equity portion of the plant. It is also negotiating with BDO Capital and Investments Corporation for an P8.7-billion loan to finance the debt component of the facility.
Trans-Asia’s shares were unchanged at P1.12 apiece on Tuesday.
Under the agreement, the two firms plan to build a power plant that can run on excess heat produced by large diesel generators, cement plants, glass plants, smelters, natural gas compression stations, among others.
Fransisco Viray, Trans-Asia president said the capacity of the power plant from waste-heat technology would depend on the scale of the facility where it would draw its fuel from.
“The plant capacity would depend on the specifics of the host facility,” he said.
The technology produces no emissions by using temperature differences from existing industrial facilities to manipulate chemicals in order to run turbines that generate electricity.
Trans-Asia is a unit of the Phinma Group. The company earlier tied up with Ayala Corp.’s wholly owned subsidiary, AC Energy Holdings Inc. (formerly Michigan Power Inc) for the construction and operation of a coal plant in Batangas.
Trans-Asia is also pursuing wind energy projects with potential capacity of 350 megawatts, which will make it one of the largest wind developers in the country today.
Earlier, Trans-Asia signed a partnership with AC Energy Holdings Inc. for the construction of a 135-megawatt circulating fluidized bed thermal power plant in Calaca town in Batangas.
Construction of the plant would begin in September, with operations set to begin in 2014.
Trans-Asia recently completed a P1.17-billion stock rights offering to partly finance the equity portion of the plant. It is also negotiating with BDO Capital and Investments Corporation for an P8.7-billion loan to finance the debt component of the facility.
Trans-Asia’s shares were unchanged at P1.12 apiece on Tuesday.
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