^{The 64 MW Alabat Wind Power Project in Quezon, expected to commence commercial operations later this year, is one of the two assets covered by A Brown’s P2.3 billion investment in Alternergy.}

Alternergy Holdings Corp. has finalized a PHP 2.3-billion investment deal with A Brown Company Inc.’s energy subsidiary, which acquired a 40% stake in the company’s Tanay and Alabat wind projects.

The company said Monday that ABC Energy Inc. has finalized its acquisition of a 40% equity stake in Alternergy Tanay Wind Corp. and Alabat Wind Power Corp., marking the completion of a two-phase transaction first announced earlier this year. Alternergy will retain a 60% majority stake and management control of both project companies. 

The deal, which closed on July 20, involved a combination of share subscriptions and share purchases. Alternergy said the final transaction value reflected an early closing adjustment after A Brown opted to complete the investment before both projects reach commercial operations. 

The transaction also secured clearance from the Philippine Competition Commission in March. 

The investment comes as Alternergy advances its capital recycling strategy to support the expansion of its renewable energy portfolio, which includes wind, solar, run-of-river hydro, and battery energy storage projects.

“We are delighted to complete this landmark transaction and welcome A Brown as a strategic partner,” said Alternergy President Gerry Magbanua. “Their decision to complete the investment ahead of commercial operations of both projects underscores their confidence in Alternergy’s renewable energy platform and long-term growth strategy.”

^{The 128 MW Tanay Wind Project in Rizal, expected to commence commercial operations later this year, is one of the two assets covered by A Brown’s P2.3 billion investment in Alternergy.}

“We are particularly pleased to partner with A Brown, whose longstanding history and legacy in the province of Rizal make this investment especially meaningful,” he added. “This partnership strengthens our capital base as we pursue our target of building up to 500 MW of additional renewable energy capacity by year-end.” 

A Brown Company Chairman Emeritus Dr. Walter Brown said the investment aligns with the group’s long-term sustainability strategy.

 “We are honored to partner with Alternergy, a pioneer in renewable energy development in the Philippines, in advancing projects that will help build an energy future that is cleaner, more secure, and more sustainable for every Filipino,” he said.

Alternergy said its 128-megawatt Tanay Wind Power Project in Rizal has reached 89% completion and is undergoing final commissioning, with commercial operations targeted to begin in October. 

Meanwhile, the 64-MW Alabat Wind Power Project in Quezon is now 83% complete and continues progressing toward commercial operations. 

“We are deeply grateful for the steadfast support of our partners—the provincial governments of Rizal and Quezon, as well as our financing partners—BPI and Security Bank for the Tanay project, and RCBC for the Alabat project,” Magbanua said. “Together, we are helping bring renewable power projects to life representing a total investment of about PHP 18 billion in support of the country’s transition to a more sustainable energy future.” 

According to Alternergy, the Tanay and Alabat projects are the first wind projects awarded under the Department of Energy’s Green Energy Auction Program 2 (GEAP 2) to reach advanced stages of development. Once operational, the facilities are expected to contribute additional renewable energy capacity in support of the country’s energy security and clean energy targets. 

What are your thoughts on Alternergy’s capital recycling strategy and the growing role of strategic equity partnerships in accelerating renewable energy projects in the Philippines? Join the discussion.

Follow Power Philippines on Facebook and LinkedIn or join our Viber community for more updates.