Energy migration processes in allophycocyanin-B trimer with a linker polypeptide were analyzed using the principal multi-component spectral estimation (PMSE) method, which does not require assumption of component number, decay function, or the spectral band shape. We determined the number of spectral components showing independent kinetic behavior by the eigenvalue of an auto-correlation matrix, and further the spectra of the components and their rise and decay curves. Two decay components were resolved at 20% one corresponded to the decay of one type of /%4 chromophore, and the other to the decay from the thermally equilibrated state between another type of p-84 chromophore and the cc-allophycocyanin B chromophore. An additional slow decay process was resolved at -196°C. We also compared the component spectra obtained using the PMSE method with the decay-associated spectra obtained using the global analysis.