Alternergy pushes on with 112-MW Tanay wind farm
MANILA, Philippines — Alternergy Holdings Corp. has kicked off the construction of a 112-megawatt (MW) wind power project in Rizal province as the listed firm aggressively expands its renewable energy footprint.
Alternergy is pursuing the project, considered the biggest of its kind in the province, through its subsidiary Alternergy Tanay Wind Corp. (AWTC).
Scheduled for completion by November 2025, the wind project is among those that secured contracts to supply cleaner energy via the Department of Energy’s Green Energy Auction Program—one of the initiatives aimed at accelerating the use of renewables nationwide.
Clean energy
“We are grateful for the huge support given to the Tanay Wind Power Project which has finally led us to this groundbreaking. We are hoping that the same support will be extended to us as we move ahead with the construction phase,” Alternergy chair Vicente Pérez said during the groundbreaking ceremony held on Tuesday.
READ: Alternergy secures P 8-B loan to bankroll wind project
The project is the second wind facility in Rizal province, with the first one being Alternergy’s 54-MW Pililla wind farm which began commercial operations in 2015.
Article continues after this advertisement“What we have started here with our partnership is a testament to our commitment to bring alternative energy as a source of clean energy to the fold of our daily living,” Rizal Gov. Nina Ricci Ynares said, adding that the new project will help boost the already popular and growing tourism in Tanay.
Article continues after this advertisementAlternergy-LGU agreement
In February, Alternergy and the Tanay local government signed a memorandum of agreement to pursue sustainable growth and development to support the local community.
The Tanay project forms part of Alternergy’s goal of reaching almost 500 MW of renewable capacity by 2026.
READ: Alternergy plans new P4-B ‘green’ fundraising
Other projects in the pipeline include the 64-MW Alabat Wind Power Project in Quezon province and the 28-MW Solana Solar Power Project in Hermosa, Bataan.
Alternergy has been securing funding from various financial institutions to undertake its robust expansion plans in the next three years. It has so far raised P20 billion within 15 months since becoming a listed entity in March last year.
Recently, it obtained an P8-billion loan from Bank of the Philippine Islands and Security Bank Corp. to bankroll the Tanay project.
This is on top of the P2-billion green corporate loan from BDO Unibank Inc. to finance these renewable projects.
Another P6.3 billion in financing is in the final stages while the second tranche of a green corporate loan is being finalized.
