Alternergy Triumphs with Wind Project Victory in Albay
MANILA, Philippines – Listed company Alternergy Holdings Corp. has been awarded a contract for the development of a 150-megawatt (MW) onshore wind project in Albay province.
The Department of Energy (DOE) granted the contract via Alternergy’s wind sub-holding entity, Alternergy Wind Holdings Corp. (AWHC). The mentioned power corporation disclosed this information on Thursday.
The AWHC also received a Certificate of Authority (COA) permitting them to conduct exploration and evaluation of wind resources for the Albay Wind Power Project.
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AWHC President Knud Hedeager stated, ‘We at Alternergy are delighted to have received the DOE’s approval for developing an additional wind project in Luzon.’
“It (the COA issuance) aids developers right from the beginning, thus assisting in reducing project risks and improving the overall feasibility of projects,” he further stated.
The certification enables developers to obtain necessary permissions and clearances from governmental bodies and municipal authorities, allowing them to start working on their planned projects.
Alternergy mentioned that they have a three-year window to finish the pre-feasibility studies along with the permitting processes. The COA will transform into a 25-year wind energy services agreement once evidence shows that the project location holds commercial viability.
The proposed wind plant would encompass multiple municipalities in Albay over an area of 6,318 hectares. After taking part in the Albay Renewable Energy and Investment Summit held last September, AlternEnergy stated they came up with this wind initiative, capable of supporting a minimum of 150 MW of power output.
“This is a thrilling period for us because we are poised to finish building our Tanay and Alabat Wind Power Projects this year. Following these developments, Alternergy will proceed with initiating new wind project ventures,” stated Hedeager.
The Albay wind initiative represents the most recent venture for Alternergy, with plans to advance up to an additional 500 MW of wind, solar, and run-of-river hydro developments within the coming two years.
Alternergy manages a collection of project firms involved in various renewable energy initiatives, specifically including wind power, run-of-river hydroelectricity, solar farms, commercial rooftops, battery storage systems, and offshore wind ventures.
Currently, the corporation boasts 11 operational assets totaling an impressive 86 MW. They anticipate adding another 225 MW from four projects scheduled to be completed this year.