Trans-Asia Oil and Energy Development Corporation casts long-term blueprint for 400-megawatt wind power portfolio which will command an investment of approximately $1.0 billion.

According to Trans-Asia president and CEO Francisco L. Viray, the company is currently undertaking wind resource assessments in various parts of the country, mainly in Luzon and Visayas.

The company has applied with the Department of Energy (DoE) for pre-commercial contracts that allowed it to assess prospective 38 wind sites. Wind measurements are due in 10 priority areas this year.

The company’s foray into renewable energy is seen taking off with the proposed 8.0 MW wind power facility in San Lorenzo, Guimaras in the Visayas. This is targeted for commercial operation in 2012.

While wind assessment at the prospect area has already been concluded, the Trans-Asia executive noted “we are waiting on how the feed-in-tariff (FiT) and renewable portfolio standards (RPS)” for RE projects will take shape.

Once the San Lorenzo project is set on stream, Viray said this could be a ‘test project’ for setting in FiT for RE portfolios, as envisioned under the Renewable Energy Act of 2008.

The development of the facility has to start with 8.0 MW as transmission infrastructure can only accommodate that volume to be wheeled to Panay island.

The company said it will have to time its Guimaras wind capacity expansion according to the transmission development plan of the National Grid Corporation of the Philippines.

“We can expand the capacity up to 54 MW. After the 8.0 MW, we can plan the next phase after two years,” he said.

Apart from the Guimaras prospects, among the key areas being explored by Trans-Asia are those in Cagayan Valley in northern Luzon.