LISTED Phinma Energy Corp. said it has invested an additional P1.6 billion in its renewable energy unit Trans-Asia Renewable Energy Corp. (Tarec) to build up the latter’s capital base. It currently operates the 54-megawatt, 27-tower wind farm in San Lorenzo, Guimaras under a Wind Energy Service Contract certified by the Department of Energy. Established in 1994, Tarec is involved in developing and utilizing renewable energy projects. It is a unit of Phinma Energy (previously known as Trans-Asia Oil and Energy Development Corp.) which is engaged in power generation and oil and mineral exploration. Phinma Energy is under parent firm Phinma Corp., which also has interests in manufacturing steel products (Union Galvasteel Corp.); property (P&S Holdings Corp. and Asian Plaza Inc.); business process outsourcing (One Animate Limited); and education (Phinma Education Holdings Inc.).

Source: Manila Times January 13, 2017 16:25 UTC