Corporate News

Ayala, Trans-Asia JV to complete 270-MW coal facility by yearend

Posted on June 08, 2015

THE JOINT VENTURE (JV) between Ayala Corp. and Trans-Asia Oil and Energy Development Corp. expects to complete the second of two units of its 270-megawatt (MW) coal facility by the end of the year, one of the parent firms said in a statement over the weekend.

South Luzon Thermal Energy Corp. (SLTEC) has formally inaugurated the first 135-MW unit in Calaca, Batangas just last June 5, more than a month after the facility started commercial operations.

Trans-Asia now says “[c]ompletion for the second unit is expected by yearend,” adding that the plant will be commercially operational the year after.

SLTEC is a 50-50 joint venture between Phinma Group’s Trans-Asia and Ayala’s AC Energy Holdings, Inc. The joint venture is investing P23 billion in the entire project, which will operate as a base load power plant.

Trans-Asia said SLTEC “will sell its entire capacity to Trans-Asia through a 15-year power purchase agreement.”

The new project will add up to Trans-Asia and AC Energy’s growing power portfolio.

Trans-Asia last year started commercial operations of its 54-MW wind farm in San Lorenzo, Guimaras. The company also owns and operates a 21-MW diesel plant in La Union through its wholly owned subsidiary CIP II Power Corp.

The company holds a 25% stake in Maibarara Geothermal, Inc., which owns and operates a 20-MW geothermal power plant in Sto. Tomas, Batangas.

AC Energy, an Ayala subsidiary, has also ventured into wind power development.

It has a 50% stake in Northwind Power Development Corp., the owner of the 33-MW Bangui wind farm in Ilocos Norte. The plant has already been expanded by 19 MW.

AC Energy also holds interest in North Luzon Renewable Energy Corp., the owner of the 81-MW Caparispisan wind project also in Ilocos Norte. -- Claire-Ann Marie C. Feliciano