Trans-Asia Renewable Energy Corp., a fully-owned subsidiary of Trans-Asia Oil and Energy Corp., has received a certificate of compliance from the Energy Regulatory Commission on the 54-megawatt San Lorenzo wind farm project in Guimaras province.
The certificate of compliance, which was received on Dec. 11, entitles Trans-Asia Renewable to a feed-in tariff of P7.40 per kilowatt-hour for a guaranteed period of 20 years, or until Dec. 26, 2034.
“This is a positive development…We can fully recognize generation revenues from our 54-MW wind farm in Guimaras…on our financial results for the year. We are committed to promoting clean and sustainable energy, and can move ahead with additional projects to expand our renewable energy portfolio as our contribution to addressing climate change,” Trans-Asia president Francisco Viray said in a statement.