Alternergy Holdings Corporation Acquires 100% of Tablas Projects

Renewable power pioneer Alternergy Holdings Corporation (ALTER), through its wholly owned wind sub-holding Alternergy Wind Holdings Corporation (AWHC), today announced full acquisition of the interest of Shell Overseas Investment B.V. in Tablas Strait Offshore Wind Power Corporation (TSOWPC) which is developing the Tablas Strait 1, 2 and 3 Offshore Wind Projects (collectively, the Tablas Projects).

“ALTER is bullish on the prospect of the offshore wind (OSW) power in the Philippines, a priority of the PBBM Administration. Beyond our 500 MW capacity target by 2026, our Tablas offshore wind projects form part of the next pipeline of projects. With full control of the Tablas Projects, we are eager to proceed at a more accelerated pace,” Knud Hedeager, president of AWHC, said.

Mr. Hedeager highlighted the current positive developments in OSW spearheaded by the Department of Energy (DOE). Particularly, he cited the recent agreement between the DOE and the Department of Environment and Natural Resources (DENR) to simplify the issuance of an environmental compliance certificate (ECC) for offshore wind energy projects. He also noted the collaboration between DOE and the Philippine Ports Authority (PPA) to repurpose and modernize ports infrastructures initially at three locations, which includes the Port of Batangas in Batangas City, the nearest port to the Tablas Projects.

Another positive development is the ongoing Batangas-Mindoro Interconnection (BMIP) Project, which will serve as the highway to transport power coming from the Mindoro Province, including the Tablas Projects, to the main load center. The National Grid Corporation of the Philippines (NGCP) is expected to complete the BMIP Project by 2027.

“The policy and regulatory developments are positive signals for us as a developer,” he said. On the technical aspect, Mr. Hedeager underscored the potential of the Tablas Projects following the conduct of an initial study to assess the technical feasibility of the projects. “The initial study indicated the projects are viable. We will build on the results of this study and move forward with pre-development activities.”

“In time, we expect to initiate collaboration with interested third parties to realize the Tablas Projects,” he added

Alternergy is a renewable power pioneer with a portfolio of project companies engaged in different RE projects, particularly wind, run-of-river hydro, solar farm and commercial rooftop, battery storage and offshore wind projects.

With robust expansion plans in the next two years, Alternergy aims to develop up to 500MW of additional wind, solar, and run of river hydro projects.

Alternergy’s management team is comprised of a pioneering group of RE advocates led by former energy secretary Vince Pérez, Gerry Magbanua, Knud Hedeager, Eduardo Martinez Miranda, Michael Lichtenfeld, Atty. Ina Arriola, Annette Rafael and Carmen Diaz.

Alternergy (ALTER) debuted at the Philippine Stock Exchange as the first initial public offering (IPO) in March 2023. In August 2024, ALTER has been included in the PSE Industrial Index.