PHINMA mulling over off-grid solar projects

May 2018

Phinma Energy Corp., a unit of the Phinma Group, is exploring opportunities in off-grid solar applications as part of a diversification strategy.

Phinma Energy said the company would engage in solar power generation and develop retail products through subsidiary Phinma Solar Energy Corp., combining expertise in the energy and roofing business.

The company said first solar installations would be on Phinma Education Network’s Cagayan de Oro College and University of Pangasinan, the information center of the 54-megawatt San Lorenzo wind farm in Guimaras and Union Galvasteel Corp. in Calamba, Laguna.

Phinma Energy last year signed a 25-year solar energy service contract covering a 648-hectare area in Bugallon, Pangasinan for its 45-MW solar power project.

Phinma Energy is also looking at opportunities in LNG with its planned integrated 150-megawatt liquefied natural gas project in Cebu.

Phinma Energy president Francisco Viray said unit Phinma Petroleum and Geothermal Inc. has signed with three international companies on the pre-development of the project.

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