DOE Awards Alternergy Holdings New Wind Project in Albay

Renewable power pioneer Alternergy Holdings Corporation (ALTER), through its wind sub-holding company Alternergy Wind Holdings Corporation (AWHC), has been awarded a new onshore wind power project in the province of Albay by the Department of Energy (DOE).

In its letter approval to Alternergy Wind Holdings, the DOE awarded a Certificate of Authority (COA) to Alternergy Wind Holdings Corporation with the exclusive authority to undertake exploration and assessment of wind resources for the Albay Wind Power Project located across several municipalities in the province of Albay. 

“Alternergy is pleased to receive the DOE’s approval to develop another wind project in Luzon,” Knud Hedeager, president of AWHC, said. “The COA framework is a landmark policy initiative by the current DOE under Energy Secretary Raphael Lotilla. It supports developers from the onset, thereby helping mitigate project risks and enhance overall project viability,” he added.

After participating in the Albay Renewable Energy and Investment Summit in September 2024, Alternergy conceptualized its Albay Wind Power Project. With a project area of 6,318 hectares, the prospective project could accommodate at least 150MW wind capacity and would form part of ALTER’’s next pipeline of projects beyond Alternergy’s current Road to 500MW by 2026.

“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,” he said. 

Alternergy founders co-developed Bangui Bay wind farm in 2005, the first wind farm in the Philippines and the first throughout Southeast Asia. After bringing Pililla Rizal wind farm into operations in 2015, Alternergy is currently constructing two wind projects this year in Tanay Rizal and Alabat Quezon. The Albay wind project would be its fifth (5th) wind project in the country. 

Under the COA, AWHC was deemed duly qualified following sufficient compliance with the requirements set forth in Department Circular (DC) No. 2024-06-0018 and to conduct pre feasibility studies. Under the COA, AWHC has three (3) years to complete the pre-feasibility studies and permitting activities from government agencies, and if the project site is proven commercially viable, the COA will be converted into a 25-year Wind Energy Service Contract. 

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.

In December 2024, ALTER distributed its first dividend payments to its preferred shareholders, including the Government Service Insurance System (GSIS) in the amount of Php 118 million.