Phinma group’s, Trans-Asia Oil and Energy Development Corp are actively looking for partners in their wind power projects around the country. The company’s president and CEO, Francisco Viray, said that they plan to put up about 400 megawatts (MW) of wind power projects from 38 sites in the Visayas and Luzon islands of the country
They are calculating that for each MW of power produced, it will require about $2.5 Million in capital. This would require them to seek for financial assistance from a partner.
Subsequently while announcing their search for a partner, they also announced that they had finished their feasibility study on their wind power projects in Guimaras. They are targeting to get 8MW of energy from that site by 2012. They are pushing through with this project even without a partner since the capital outlay would be only $20 Million. They also said that if they were able to connect this site to the main grid (via the National Grid Corporation of the Philippines) they might consider expanding the wind power project to pump out 54 MW of power. The wind power plants in Guimaras also have diesel generators in them as a backup.
Aside from these wind power projects, Trans-Asia Oil also has exploration contracts in the Philippines. They announced recently that they were beginning exploration of the Marantao area covered by their service contract 55, which was awarded to them by the Department of Energy
[source]
Category: Oil, Wind, Oil Price
