By Danessa Rivera (The
Philippine Star) | Updated April 17, 2017 - 12:00am
MANILA, Philippines - Phinma Energy
Corp. is eyeing hydropower and waste-to-energy projects as part of efforts to
further expand its renewable energy portfolio,
The company is undertaking studies
in developing the Ilog hydropower service contract (HSC) in Negros Occidental,
Phinma Energy SVP Raymundo Reyes Jr. told The STAR.
“The Ilog HSC is in its two-year
pre-development phase, basically permitting and engineering studies,” he said.
Phinma Energy will pursue the
development “assuming the results are positive after the pre-development
phase,” Reyes said.
The company had been awarded two
hydropower service contracts in the past but it did not pursue them for various
reasons, the company official said.
Recent data from the Department of
Energy showed the Ilog hydropower service contract was among the indicative
projects in the Visayas region.
Located in Mabinay, Negros
Occidental, the project is estimated to have a rated capacity of 21.6
megawatts.
Last February, Phinma Energy was
issued a grid impact study clearance, which is necessary in determining if the
electricity to be generated by the power project can be absorbed by the grid.
Phinma Energy president and CEO
Francisco Viray said the company is also considering undertaking waste-to-water
energy projects.
“We are prioritizing waste-to-energy
because it can solve several issues like municipal waste. We’re looking for a
technology for that. We just have to find the right technology,” he said.
Through its subsidiary Trans-Asia
Petroleum Corp., Phinma Energy is also entering the geothermal exploration and
production sector.
In line with this, the company
changed its corporate name to Phinma Petroleum and Geothermal Inc.
So far, Phinma Energy has developed
the 54-MW wind power farm located at the Municipality of San Lorenzo, Guimaras
under subsidiary Trans-Asia Renewable Energy Corp. (TAREC).
In total, TAREC holds a portfolio of
wind sites across Luzon and the Visayas, with a total estimated potential
capacity of over 400 MW.
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