Trans-Asia signs development agreement for waste-to-energy project in Rizal

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TUESDAY, 26 JULY 2011 18:55 PAUL ANTHONY A. ISLA / REPORTER

LISTED Trans-Asia Oil and Energy Development Corp., the power and exploration arm of Philippine Investment Management Inc., said on Tuesday it inked an agreement with Geopower Energy Ltd. of Australia and domestic company Thor Energy Philippines Inc.

In a disclosure to the Philippine Stock Exchange, Trans-Asia said the agreement will cover the joint assessment of opportunities for commercialization of energy generated by waste heat resources in the country.

Trans-Asia said the prospective sites identified by the group include industrial smelters, cement and glass manufacturing plans, power stations and geothermal fields.

Francisco Viray, Trans-Asia president, said they plan to put up a power plant once the planned waste-to-energy venture is deemed commercially viable.

Viray said the plant’s capacity will also depend on the specifics of the host facility.

He further noted that no site and cost estimates have been finalized at the moment.

Trans-Asia and Ayala Corp.’s AC Energy Holdings Inc. earlier signed a joint-venture agreement for the construction and operation of a coal plant in Batangas.

Trans-Asia is also looking at building wind energy projects with a potential capacity of 350 megawatt (MW).

Trans-Asia provides affordable power through the 52-MW power facility of Trans Asia Power Generation Corp. and its own 3.4-MW power plant in Guimaras.