Subsidiaries

WHOLLY-OWNED SUBSIDIARIES

  • Trans-Asia Power Generation Corporation (TAPGC)

    Trans-Asia Power Generation Corporation (TAPGC) is a wholly-owned subsidiary of PHINMA Energy Corporation, operating a 52-megawatt (MW) Bunker-C fuel power plant in Bulacan.  With the full operationalization of the Philippine Wholesale Electricity Spot Market, said plant is able to participate in the spot market, selling its excess power.On May 12, 2014, TAPGC acquired One Subic Power Generation Corporation to operate the 116-megawatt diesel power plant in Subic Bay Freeport Zone. While continuously operating and expanding its portfolio, TAPGC commits to provide sustainable and reliable power supply to its customers. In doing so, its operations is also guided by environmental standards and the Philippine Grid Code.
  • Trans-Asia Renewable Energy Corporation (TAREC)

    Trans-Asia Renewable Energy Corporation (TAREC), a wholly-owned subsidiary of PHINMA Energy Corporation, is the arm engaged in developing indigenous renewable energy resources in the country. TAREC holds a portfolio of wind sites across Luzon and the Visayas, with a total estimated potential capacity of over 400 megawatts (MW). These sites have been awarded Service Contracts by the Department of Energy (DOE), making TAREC the leading developer in terms of total potential capacity and number of sites registered with the DOE. TAREC’s first project is a 54-MW Wind Power Farm located at the Municipality of San Lorenzo, province of Guimaras, Philippines. The power produced by the wind farm will be used to augment the supply of power in the Visayas grid.
  • CIP II Power Corporation

    CIP II Power Corporation, is a 100%-owned subsidiary of PHINMA Energy Corporation operating a 21-megawatt (MW) diesel plant. The facility, formerly located inside the Carmelray Industrial Park II in Calamba City, was transferred to Bacnotan, La Union in 2012. On January 2011, the transfer of the 21 MW-bunker power plant to La Union, adjacent to the Holcim Cement Plant, commenced. After bringing all major equipment and building new structures in the new site, the plant began its commercial operations in the first quarter of 2013.
  • Trans-Asia Petroleum (TAPET)

    Trans-Asia Petroleum (TAPET) was organized on 28 September 1994 as a wholly-owned subsidiary of PHINMA Energy Corporation engaged in the business of oil and gas exploration, development, and production both domestically and internationally. As the oil exploration arm of PHINMA Energy, TAPET ventures into partnerships with the Philippine government under four key Service Contracts (SC’s.)Under the SC, TAPET has the exclusive rights to explore, develop and produce petroleum resources within the contract area.

For more information about TAPET, please click here: www.transasia-petroleum.com


JOINT VENTURES:

  • South Luzon Thermal Energy Corporation
    South Luzon Thermal Energy Corporation (SLTEC) is a 50-50 joint venture project undertaken by PHINMA Energy Corporation and AC Energy Holdings Inc., a wholly-owned subsidiary of the Ayala Group. It is responsible for the construction and operation of a 2 x 135 megawatt (MW) thermal power plant in Calaca, Batangas, utilizing circulating fluidized bed (CFB) boiler technology. The project officially commenced on December 2011 and commercial operation began on April 24, 2015. The second unit operated one year thereafter, on February 21, 2016. SLTEC operates as a baseload plant to serve the anticipated power demand growth in the Luzon grid. It  operates as an independent power producer, with a long-term take-or-pay contract with PHINMA Energy for its entire capacity via a 15-year Power Purchase Agreement. Located in a 14.1 hectare property within the Phoenix Petroterminal and Industrial Park, the plant will have access to a dedicated coal-handling facility. SLTEC has secured a long-term coal supply agreement with Semirara Mining Corporation for the fuel requirements of the power plant.
  • Maibarara Geothermal, Inc.

    Maibarara Geothermal, Inc. is a joint venture company owned by PHINMA Energy Corporation (25%), Petrogreen Energy Corporation (65%) and PNOC Renewables Corporation (10%).MGI implemented a PhP 4.34 billion integrated geothermal field development and power plant construction project under a geothermal renewable energy service contract awarded by the Department of Energy on February 1, 2010. The project covers a 1,600 – hectare area in Batangas and Laguna.As of mid – October 2012, MGI completed the well requirements (3 production wells, 2 reinjection wells) for a 20-MW power plant.Commercial operations of the 20-MW geothermal power plant came on stream on February 8, 2014. Upon commencement, Maibarara was declared as the country’s first renewable project under the Renewable Act of 2008. PHINMA Energy is also the sole off-taker of MGI’s electricity output under an Electricity Supply Agreement.