Trans-Asia planning to put up 120-MW wind farm in Cagayan

MANILA, April 5 (PNA) — Trans-Asia Renewable Energy Corporation (TAREC) is planning to put up a 120-megawatt (MW) wind farm in Ballesteros, Cagayan, according to the company’s President and Chief Executive Officer Francisco Viray.

”In all our service contracts, we only have activities in Ballesteros, Cagayan and Guimaras. That’s another potential of 120 MWs,” Viray told reporters.

TAREC said the estimated project cost for the 120-MW wind farm is USD 3 million per MW, or USD 360 million for the entire project.

Trans-Asia Renewables Energy Corporation is a full subsidiary of Trans-Asia Oil and Energy Development Corporation, which is also engaged in oil and gas exploration.

Viray said that TAREC will coordinate with the National Grid Corporation of the Philippines (NGCP) to build a transmission loop in Cagayan.

He added that TAREC’s potential 120-MW wind farm in Cagayan is supposed to be the first connection that will be served by NGCP in the area.

It will likely be developed after the generation company’s second project in Guimaras, which will not move without the increased wind installation target capacity for the Feed-in-Tariff (FIT), according to Viray.

Aside from Ballesteros, TAREC also has another wind service contract in Aparri, Cagayan.

Meanwhile, TAREC Chairman Ramon del Rosario bared they have no plan to venture into solar projects in the near future.

But he stressed they are interested in developing geothermal projects. (PNA)