Trans-Asia has disbursed today the amount of P160,860,000 from the proceeds of its 2012 stock rights offering,” the company said in a disclosure to the exchange.
The amount will be used to fund expenses of its investment in a 54-megawatt (MW) wind power plant in San Lorenzo, Guimaras.
The equity investment in the said power is in accordance with the rights offer’s use of proceeds as disclosed in the prospectus dated October 30, 2012,” Vice President Mariejo P. Bautista said.
The Department of Energy (DOE) earlier confirmed the declaration of commerciality of Trans-Asia’s wind project in Guimaras under Wind Energy Service Contract (WESC) 2009-10-009.
Trans-Asia Renewable Energy Corp., a wholly owned subsidiary of Trans-Asia, is undertaking the project.
In our country if such type of project will start...........
