Phinma Energy revives bid to develop hydropower

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.