Alternergy to take over 2 proposed wind projects in Quezon – BusinessWorld Online
ALTERNERGY HOLDINGS CORP. will acquire two proposed wind power projects in Quezon province, totaling 246 megawatts (MW), as part of its plan to expand its renewable energy portfolio.
Calavite Passage Wind Power Corp., a special purpose company of Alternergy, is taking over the 96-MW Tayabas North Wind and 150-MW Tayabas South projects from CleanTech Global Renewables, Inc., the company said in a media release on Monday.
“We are excited to develop our second wind project in Quezon Province after our 64-MW Alabat Wind Project is completed in early 2026,” Alternergy President Gerry P. Magbanua said.
The Tayabas North Wind project was among the qualified bids under the fourth round of the green energy auction conducted by the Department of Energy (DoE) and is slated for completion by 2028.
Established in 2014, CleanTech is developing a portfolio of clean energy projects in the Philippines, with 650 MW of solar plants either operational or under construction.
“We look forward to co-developing these wind projects with Alternergy, the pioneer in wind energy in the country,” CleanTech Chief Executive Officer Salvador Antonio Castro, Jr. said.
CleanTech will maintain an equity stake in both projects and has the option to make additional investments in each of them.
Mabuhay Capital served as financial advisor to the transaction. The transfer of assets is subject to regulatory approval by the DoE.
On Monday, shares in Alternergy fell 2.2% or P0.02 to close at P0.89 apiece. — Sheldeen Joy Talavera
