TeaM Energy eyes 10 renewable energy projects

MANILA, Philippines - TeaM Energy Philippines Corp., a joint venture between Japanese firms Tokyo Electric Power Co. and Marubeni Corp., is looking at 10 renewable energy projects as part of its expansion plans.

The bulk of the projects, which are under various stages, are hydroelectric power project, TeaM Energy president and chief executive Federico E. Puno said.

For one, TeaM Energy wants to build the six-megawatt (MW) Lueco Baroro river mini-hydropower project in La Union, where three potential sites are under study.

Puno said the company has submitted a letter of intent to the Department of Energy to secure a service contract.

TeaM Energy is also looking at the tailings pond of the country’s largest miner Philex Mining Corp. for a one-MW hydropower project in Benguet.

“Philex has reiterated the interest to develop the tailings pond but confirmation of their operation until 2020 has to be established to evaluate if the project is worth pursuing,” it added.

Other mini-hydropower projects could be developed in Tabuk, Kalinga province that is under feasibility study; Asin in Tuba, Benguet that is subject to a second bidding; and in Mountain Province that will be up for bidding by the DOE.

For the Hydrotec hydropower project in various sites in Luzon and Visayas, Puno said a non-disclosure agreement has been signed with TeaM Energy’s partner.

“Hydrotec is capable to be a partner-developer with TeaM Energy or as a local technical consultant to evaluate if the hydropower project is still worth pursuing,” the energy firm said.

TeaM Energy is also looking at biomass projects in San Ildefonso, Bulacan that is subject to prior consultation and in Unisan, Quezon that is under feasibility study.

For geothermal projects, TeaM Energy said it is targeting Mountain Province and Mt. Natib in Benguet.

Puno said the company wants to buy the existing service contract for the geothermal project in Mountain Province while a non-disclosure agreement is in effect with Clean Rock Renewable Energy for the Benguet project.

TeaM Energy earlier planned to put up more than 50-MW of renewable energy projects nationwide.

Last week, TeaM Energy said it partnered with the Aboitiz Group to expand a coal-fired power plant in Quezon province at a cost of $600 million to $700 million.

TeaM Energy earns from and operates the 735-MW Pagbilao coal plant and the 1,200-MW Sual coal plant in Pangasinan.

As independent power producer contract administrators, conglomerate San Miguel Corp. and Aboitiz serve as TeaM Energy’s partners in running the Sual and Pagbilao facilities, respectively. TeaM Energy will have to turn over the assets to Aboitiz Power (Sual) and San Miguel (Pagbilao) by 2025 under an earlier agreement.