Alternergy Retains Majority Ownership of Tanay and Alabat Wind Power Projects

Strategic Insights -

Alternergy Holding Corporation has secured majority ownership of the Tanay and Alabat wind power projects through a PHP2.4 billion co-investment tie-up with ABC Energy Inc. The deal marks a strategic move for Alternergy, as the company continues to expand its renewable energy portfolio. The two power projects, with a combined capacity of 192 megawatts, are in advanced construction stages and expected to be completed next year.

Key Takeaways:

  • Alternergy retains 60% ownership of the 128-megawatt Tanay Wind Corporation and 64-megawatt Alabat Wind Power Corporation through the PHP2.4 billion co-investment deal with ABC Energy Inc.
  • The joint venture is a significant step in Alternergy's capital raising strategy to fund its project pipeline in wind, solar, run of river, and battery storage.
  • The investment represents the largest single investment across the A Brown Group to date, aligning with A Brown's strategy to accelerate green energy initiatives.
  • The Tanay and Alabat wind power projects are in advanced construction stages and expected to be completed next year, marking a significant expansion of Alternergy's renewable energy portfolio.
  • Senior officials, including Alternergy president Gerry Magbanua and ABC Energy president Paul Juat, expressed confidence in the partnership and its potential to drive sustainable growth.
  • The deal underscores the commitment of companies like A Brown to transition towards renewable energy sources, abandoning coal interests in favor of green initiatives.

Statistics:

  • PHP2.4 billion: Total value of the co-investment deal between Alternergy and ABC Energy Inc.
  • 192 megawatts: Combined capacity of the Tanay and Alabat wind power projects.
  • 128 megawatts: Capacity of the Tanay Wind Corporation.
  • 64 megawatts: Capacity of the Alabat Wind Power Corporation.
  • 90 years: Longstanding presence of the Brown family in the progressive municipality of Tanay.
  • PHP2.4 billion: Represents the largest single investment across the A Brown Group to date.

Sources:

  • Philippine News Agency (PNA)