During its shareholders meeting held last 12 April 2016, Trans-Asia Oil and Energy Development Corporation secured majority shareholder approval to rename itself, PHINMA Energy Corporation. The company received approval to implement its change in name from the Securities and Exchange Commission (SEC) on 22 August 2016. According to PHINMA management, this move captures the essence of what we are trying to do in the PHINMA Group. Through the PHINMA Energy Corporation, we hope to make lives better and provide a brighter future for generations of Filipinos to come.
Trans-Asia Oil and Energy Development Corporation initially started with embedded generation plants to address the power requirements of cement plants within the PHINMA Group. Expanding its business to serve the needs of other large-scale and industrial customers, Trans-Asia’s long standing customers include the likes of La Farge Holcim Cement and Republic Cement & Building Materials Corporation (RCBM). Other large customers include the Cavite Economic Zone (CEZA), Direct Power Services Inc. (DPSI) of the Ayala Group, Manila Water Corporation (MWC), Universal Robina Corporation (URC), and other such industrial users. Trans-Asia has also been the preferred electricity suppliers of 14 electric cooperatives around the country, serving the needs of our countrymen in various rural locations.
The power business of Trans-Asia began with bunker-fired diesel generator plants. Over the years, the company expanded its power portfolio, expanding into other sources of power, in order to supply its customers with a reliable and affordable mix of electricity, Trans-Asia made strategic investments in power projects to bulk up its generation capacity. Subsidiary power plants include Trans-Asia Power Generation Corporation (54MW; Norzagaray, Bulacan), CIP II Power Corporation (21MW; Bacnotan, La Union), One Subic Power Generation Corporation (116MW; SBMA, Olongapo), and company owned Guimaras Power Plant (3.4MW; Jordan, Guimaras).
Strategic partnerships have also played a key role in the expansion of Trans-Asia. South Luzon Thermal Energy Corporation (SLTEC) is a joint venture of Trans-Asia and AC Energy Holdings Inc. of the Ayala Group of companies. Together they constructed a 2 x 135MW Circulating Fluidized Bed (CFB) Coal plant in Calaca, Batangas, with Unit 1 coming online in 2015, and Unit 2 following shortly in 2016.
Maibarara Geothermal Inc. (MGI) is another partnership venture for Trans-Asia, who acquired a twenty-five percent share of the geothermal power project, together with Petrogreen Energy Corporation and PNOC Renewables Corporation. The consortium embarked on an expansion plan for an additional 12MW expected to come online by 2017. MGI was the first renewable energy project declared commercial under the Renewable Energy Act of 2008.
Trans-Asia’s first foray into wind energy was through its fully owned subsidiary, Trans-Asia Renewable Energy Corporation (TAREC) in San Lorenzo, Guimaras. The 54MW San Lorenzo Wind Farm of TAREC was the first wind farm in the Visayas to be constructed and fully connected to the grid. The wind project is expected to generate total energy of around 120,000 Megawatt hours annually, with additional benefit of displacing Carbon Dioxide with an estimated amount of 65,000 tonnes per annum or a total of 1.3Million tonnes of CO2 during its 20 year project life.
Trans-Asia Petroleum Corporation will continue to pursue the bulk of energy resource exploration and development activities for the company, as a separately listed entity since its listing by way of introduction in 2014. Energy resource exploration will continue to play a key role for the company, consistent with its mission to help achieve energy self-reliance for the country.
The company has likewise evolved its various Corporate Social Responsibility advocacies over the years, winning local and international recognition for its HELP Earth Program, which stands for Harnessing Energy Literacy for Planet Earth. Since its inception in 2009, HELP Earth has expanded its beneficiary reach to more than 6 provinces across the country, benefiting over 300 teachers, and 10,000 students throughout host communities.
As Trans-Asia embraces the name of its Parent to become PHINMA Energy Corporation, it is invigorated with resolve to capture a significant share of the retail electricity market through customizable power solutions, serving a greater number of energy end-users with a customer-centric approach.
PHINMA Energy Corporation shall expand its energy generation portfolio by making purposeful investments in strategic power projects, in order to develop and diversify a sustainable mix of reliable and cost-efficient energy sources.
The re-energized brand of the company combines PHINMA’s impeccable reputation of integrity with the commercial success of Trans-Asia. PHINMA Energy Corporation is committed to promoting clean and responsible power generation and empowering our host communities as our contribution to nation building.
PHINMA Energy believes in Making Lives Better.