Philippines: Phinma Energy secures contract for 45-MW Pangasinan solar farm

Philippines: Phinma Energy secures contract for 45-MW Pangasinan solar farm

Phinma Energy Corp. plans to put up a 45-megawatt (MW) solar farm in
Pangasinan after securing a solar service contract.

The company disclosed it entered into a solar energy service contract with
the Department of Energy (DOE). The contract has a term of 25 years and is
extendable for another 25 years.

This gives the company the exclusive right to explore, develop and utilize
the solar energy resource in a 648-hectare area in the municipality of
Bugallon, Pangasinan.

"Pre-development activities such as yield assessment, environmental impact
study and system impact study are underway and are expected to be completed
within the year," Phinma Energy said.

The company has moved its focus on renewable energy development after it
deferred plans to push through with its liquefied natural gas (LNG) and coal
projects due to pricing issues and perceived oversupply in the country's
power grids.

It has previously undertaken feasibility studies for a LNG receiving
terminal in Sual, Pangasinan amid the need for new sources of fuel as the
Malampaya deep water gas-to-power project is nearing depletion.

Meanwhile, the firm is eyeing a 900-MW coal-fired power plant in the same
area.

The coal project was among the developments that would partially push Phinma
Energy's capacity to double from 500 MW at end-2016 in the next 10 years.

Phinma Energy said it would work on developing its renewable energy
contracts such as solar, wind and hydropower.

Among the power projects being looked at are the 21.6-MW Ilog hydropower
project in Mabinay, Negros Occidental and the additional 40-MW wind farm in
Guimaras.

Phinma Energy president and CEO Francisco Viray added the company is also
considering undertaking waste-to-water energy projects.

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).

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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Link to Original Article:
https://mtnvnews.com/phinma-energy-secures-contract-for-45-mw-pangasinan-sol
ar-farm/117707/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com