By Danessa Rivera (The
Philippine Star) | Updated August 19, 2016 - 12:00am
MANILA, Philippines - Trans-Asia Oil
and Energy Development Corp. reported a net income of P542 million in the first
semester, a 43-percent increase from P377 million in the same period last year.
The company said revenue from the
sale of electricity for the period increased 11 percent to P7.1 billion
“largely brought about by higher energy sales in the power supply business.”
Trans-Asia said available energy
increased this year after subsidiary South Luzon Thermal Energy Corp. started
operating its second 135-megawatt (MW) circulating fluidized bed coal-powered
plant in February, supplementing the first 135-MW unit that started commercial
operations in April 2015.
Adding to the higher energy supply
is the commercial operations of power barges 101 and 102 also in February this
year.
The company also has renewable
energy in its portfolio. Its wholly-owned subsidiary Trans-Asia Renewable
Energy Corp., which operates the 54-MW wind farm located in San Lorenzo, Guimaras,
delivered 61.3 gigawatt-hours of wind-powered electricity during the first
half.
The company expects to boost energy
supply from its portfolio with the addition of new projects.
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