Alternergy Holdings Corp. has secured the required height clearance from the Civil Aviation Authority of the Philippines (Caap) for its 100-megawatt Tanay wind power project in Rizal province.
“The Tanay wind project’s height clearance went through a painstaking and thorough process of technical studies and consultations with government aviation authorities with inputs from international and local aviation experts,” said Knud Hedeager, director and co-founder of Alternergy.
The project forms part of Alternergy’s expansion plans in the next five years, as it seeks to develop up to 1,370 megawatts of additional wind, offshore wind, solar and run-of-river hydro projects.
Its development is among Alternergy’s projects that will be funded by the firm’s upcoming initial public offering (IPO).
Earlier this week, Alternergy secured P1 billion in debt financing for its 28-MW Solana solar power project in Hermosa, Bataan, through the Rizal Commercial Banking Corp. (RCBC).
RCBC’s total funding for the project is now close to P2 billion, Alternergy president Gerry Magbanua said, noting that the bank has also extended consecutive debt financing to the firm’s eight large-scale solar rooftop projects nationwide.
According to RCBC corporate banking group head Elizabeth Coronel, their support to Alternergy “aligns with our sustainable finance strategy which has so far channeled more than P70 billion in funding support to various sustainable projects.”
The Department of Energy (DOE) also recently awarded three wind energy service contracts to Alternergy to boost the company’s expansion pipeline.
The contracts for the Tablas Strait offshore wind power project covers around 120,000 hectares.