PHINMA Energy and DOE Ink Solar Energy Service Contract

Makati—(PHStocks)—PHINMA Energy Corp. (PSE: PHEN) and the Department of Energy (DOE) entered into a Solar Energy Service Contract which grants PHINMA Energy the exclusive right to explore, develop and utilize the solar energy resource in a 648-hectare area in the Municipality of Bugallon, Province of Pangasinan.

Pre-development activities such as yield assessment, environmental impact study and system impact study are underway and are expected to be completed within the year. PHINMA Energy hopes to construct a 45MW solar plant in the service contract area.

The term of the service contract is twenty-five (25) years, extendable for another 25 years.

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