Alternergy Holdings Corp. (ALTER) is exploring the possibility of undertaking another renewable energy project in other Pacific Islands, building on its first international foray in Palau.
ALTER Chairman Vicente S. Pérez Jr. told Power Philippines the company is in talks with financial advisors and considers replicating what it has done in Palau—a 15.3 megawatt-peak (MWp) solar photovoltaic (PV) plant coupled with a 12.9 megawatt-hour (MWh) battery energy storage system (BESS).
Spearheaded by ALTER’s subsidiary, Solar Pacific Energy Corporation (SPEC), the project is located in Ngatpang State on Babeldaob and is one of the most substantial foreign direct investments in Palau, valued at $29million.
The project, considered among the largest in the Western Pacific region, involves a long-term power supply agreement with the Palau Public Utilities Corporation (PPUC). It aims to provide up to 23,000 MWh of clean and renewable energy annually, meeting over 20% of Palau’s energy needs and supporting the nation’s goal of achieving 45% renewable energy share by this year.
Additionally, the project also helps Palau reduce its carbon emissions by more than 10,000 tons per year.
ALTER’s Palau Solar Power Project, which started commercial operations in December 2023, has been significantly contributing to the company’s financial performance, offsetting some of the losses from its wind operations. The company recent disclosed its operating revenues for the six-month period ending December 2024, reached P181 million, up 81% largely due to the project.
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