Philippines' Trans-Asia to inject equity funding to 135MW project

A P612 million equity cost will be injected into a 135 MW joint venture coal power project in Calaca, Batangas.

 Trans-Asia will utilize the proceeds it raised from last year’s stock rights offering for capital spending.

Of the P1.615-billion proceeds it cornered from the stock offering, Trans-Asia just spent a measly P11.9 million as of end-December. But it anticipates major project funding allocations this year.

The company similarly indicated that additional expenses will be set for its 54-MW wind energy project which is anticipated to finally reach implementation phase this year.

The Batangas coal project is a tie-up venture of Trans-Asia with South Luzon Thermal Energy Corporation.

The facility will require a total investments of P13 billion which will lean primarily on “project finance basis;” or the typical 70:30 debt-to-equity project funding ratio.

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