MANILA, Philippines – Listed Alternergy Holdings Corp. has secured a contract to develop a 150-megawatt (MW) onshore wind project in Albay province.
The Department of Energy (DOE) awarded the contract through Alternergy’s wind sub-holding company Alternergy Wind Holdings Corp. (AWHC), the listed power firm said in a disclosure on Thursday.
AWHC was also given a certificate of authority (COA) to undertake exploration and assessment of wind resources for the Albay Wind Power Project.
READ: Alternergy raising funds for 500-MW goal
“Alternergy is pleased to receive the DOE’s approval to develop another wind project in Luzon,” AWHC president Knud Hedeager said.
“It (the COA issuance) supports developers from the onset, thereby helping mitigate project risks and enhance overall project viability,” he added.
The certification gives developers the go-signal to secure relevant permits and approvals from government agencies and local governments so that work on the proposed project could finally begin.
Alternergy said it has three years to complete the prefeasibility studies and permitting activities. Its COA will be converted into a 25-year wind energy service contract upon proving that the project site is commercially viable.
The planned wind facility would cover several towns in Albay spanning 6,318 hectares. Alternergy said it conceptualized the wind project, which could accommodate at least 150 MW of capacity, after participating in the Albay Renewable Energy and Investment Summit in September last year.
“This is an exciting time for us as we are set to complete construction of our Tanay and Alabat Wind Power Projects this year, after which Alternergy will be moving forward with developing new wind projects,” Hedeager said.
The Albay wind project is the latest undertaking of Alternergy, which aims to develop up to 500 MW of additional wind, solar, and run-of-river hydro projects in the next two years.
Alternergy holds a portfolio of project companies engaged in different renewable projects, particularly wind, run-of-river hydro, solar farm and commercial rooftop, battery storage and offshore wind projects.
At present, the listed company has 11 operating assets with a total combined capacity of 86 MW. It expects to add 225 MW more from four projects slated for completion this year.