April 23, 2013

Trans-Asia earnings surge almost 4-fold

Trans-Asia Oil and Energy Development Corp. of the Phinma Group posted a consolidated net income of P164.9 M in the first quarter of the year, nearly 300% more than the P41.8 M posted a year ago. The company currently supplies power to major customers such as Holcim Philippines in Bulacan and La Union and Quezon II Electric Cooperative.

The company said it is aiming to double its power capacity to 400 MW in the next few years upon completion of a new 135-MW clean coal power plant in Calaca, Batangas in partnership with the Ayala Group; an integrated 20-MW geothermal project in Sto. Tomas, Batangas with the Yuchengco Group and the Philippine National Oil Co.; and the 54-MW San Lorenzo wind farm in Guimaras Island.