Alternergy Holdings Corp. remains confident in its ability to expand its renewable energy (RE) capacity, leveraging recent financial gains to propel its projects forward despite potential challenge.
In a report by the Manila Bulletin, Alternergy President Gerry Magbanua affirmed that the company is on track to complete approximately 310 megawatts (MW) worth of projects by 2025, a significant increase from the current overall capacity of 86 MW recorded at the end of 2023.
While acknowledging possible hurdles such as regulatory approvals and geopolitical challenges like prolonged El Niño or La Niña events, Alternergy has implemented contingency plans to address potential delays.
Magbanua emphasized the current energy supply issues in the country, noting frequent red and yellow alerts signaling supply shortages. He expressed their intention to help solve this problem by accelerating the deployment of intensified capacity generation within the next two years.
He noted the importance of the updated National Renewable Energy Program (NREP) by the Department of Energy (DOE), which aims for a 50 percent share of RE in the Philippines’ energy mix by 2040.
The NREP will facilitate the development of the country’s green energy resources, attract more investments in the RE sector, and improve renewable power planning for cost-efficiency and feasibility.
On further RE developments, Magbanua mentioned that several potential projects are currently under consideration. Large landowners have approached Alternergy to evaluate their idle properties for development into renewable energy zones. The company is carefully assessing these projects to continue to build over the next two years, aiming to enhance shareholder value through fair pricing.
Alternergy is also exploring vertical wind power generation, given its substantial portfolio of wind projects in the Philippines. However, the commercial viability of this technology is still under assessment.
Two of the company’s projects, the Tanay and Alabat wind farms, are actively under development and partnership.
