PHINMA Renewable Energy Corporation (PHINMA Renewable), formerly Trans-Asia Renewable Energy Corporation (TAREC), is a wholly owned subsidiary of PHINMA Energy. It was incorporated and registered with the Philippine Securities and Exchange Commission (SEC) on September 2, 1994. It was established with the primary purpose of developing and utilizing renewable energy, and pursuing clean and energy efficient projects. The vision of PHINMA Renewable is to become a dominant player in emerging renewable energy through strategic partnerships, portfolio development, and vigorous but deliberate operating capacity build-up.
In line with the country’s thrust of promoting the growth of renewable energy resources, PHINMA Renewable ventured into wind resource development projects, and currently has 9 wind energy service contracts with an aggregate potential capacity of over 400MW.
In December 27, 2014, PHINMA Renewable successfully completed the construction and commissioning of the 54 MW San Lorenzo Wind Project, the first wind farm completed in the Visayas. The generation output of PHINMA Renewable’s wind farm has augmented the tight supply reserves in the Visayas grid, improving stability of the Panay grid and delivering electricity to an equivalent of 48,000 homes, poised to reduce carbon emissions of around 1.3 Million tons of CO2 over its 20-year minimum project-life.