Philippines: PHINMA Energy to double capacity in 10 years

Philippines: PHINMA Energy to double capacity in 10 years

PHINMA Energy seeks to double its capacity to 1,000 megawatts in the next 10
years.

According to PHINMA Energy President Francisco L. Viray, they would have to
slow down their expansion pace a bit because of overcapacity forecast in the
immediate term.

That is then prompting them to be more prudent when it comes to penciling in
and firming up their next batch of expansion projects.

"We may double capacity in the next 10 years.there would be excess supply,
so you have to consider that," he told reporters in an interview here.

Viray said their attributable capacity will be increased this year to 500MW
from last year's 200MW.

The major milestone in their portfolio shoring up this year had been the
commercial operation of the second phase of their South Luzon Thermal Energy
Corporation (SLTEC) which 135MW capacity reached commercial commissioning
phase last year.

The company's assets include the coal plant in Calaca, Batangas; the power
barges acquisitions from the Power Sector Assets and Liabilities Management
Corporation (PSALM); the 54MW San Lorenzo wind farm; and the Maibarara
geothermal power project which is also up for expansion with the imprimatur
of project partners.

This year also marked the company's re-branding and changing of corporate
identity to PHINMA Energy Corporation - from Trans-Asia Oil and Energy
Development Corporation - as a way of establishing more direct affinity to
its parent firm

The Del Rosario-led firm, a publicly-listed entity, also changed recently
its ticker symbol to "PHEN" at the Philippine Stock Exchange. It has been
explained that PH represents its parent firm; while EN is in line with its
core business, which is ENERGY.

After regulatory approval by the Securities and Exchange Commission (SEC),
the firm announced that it was finally given the so-signal "to implement its
change in name," effective August 22 this year.

According to the executives of the company, "this move captures the essence
of what we are trying to do in the PHINMA Group."

PHINMA Energy latched onto its corporate social responsibility (CSR) maxim
of "Making Lives Better" and "providing a brighter future for generations of
Filipinos to come."

Following this transformative phase in the company's history, PHINMA Energy
"shall expand its energy generation portfolio by making purposeful
investments in strategic power projects."

This is in support of its ultimate goal of "developing and diversifying a
sustainable mix of reliable and cost-efficient energy sources."

Earlier, the firm also divulged plans for investment forays into integrated
facilities of liquefied natural gas (LNG) terminal and power projects so it
can help meet the country's need for mid-merit capacity.

The company is similarly setting sights on cornering a sizeable pie of the
market once full retail competition in the restructured electricity sector
will finally be enforced. Legal snags still hobble the smooth flow of this
policy imposition in the deregulated power sector.

--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---

Ref: http://www.mb.com.ph/phinma-energy-to-double-capacity-in-10-years/

--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---

John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com