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Trans-Asia receives service contract for three Filipino hydropower projects

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The Philippine Department of Energy has awarded service contracts for thee hydropower project developments to the Trans-Asia Oil and Energy Development Corporation, according to a disclosure filed with the Philippine Stock Exchange.

The plants include a 300 MW plant in Pililla, 10 MW plant in Ilagan, and 10 MW plant in Buguias.

"All contracts provide for a two-year pre-development stage," the company said in its disclosure.

Trans-Asia subsidiary Phinma said each of the projects will then be eligible for development for 25 years, should they be declared commercially feasible.

HydroWorld.com reported Trans-Asia had submitted a US$424 million bid for the capacity of the 345-MW San Roque hydroelectric plant in December 2009.

For more news from Asia, visit here.

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