C04224-2017 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common | 4,885,897,908 |
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Subject of the Disclosure |
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Solar Energy Service Contract |
Background/Description of the Disclosure |
PHINMA Energy Corporation and the Department of Energy (DOE) entered into a Solar Energy Service Contract which grants the 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 40MW solar plant in the service contract area. The term of the service contract is twenty-five (25) years, extendable for another 25 years.” |
Other Relevant Information |
None. |
Name | Alan Ascalon |
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Designation | Vice President/ Asst. Corporate Secretary |