Alternergy Holdings Corp. has set Php 20 billion in capital expenditures for the next three to five years to build up to 350 megawatts (MW) of green projects.
In a report by the Philippine Star, Alternergy president Gerry Magbanua said that the company has 220 MW of onshore wind, 33 MW of solar, and 50 MW of run-of-river hydro projects in its pipeline for the medium term.
Alternergy is making use of its “triple play strategy” to build its portfolio.
Funding for the CAPEX will be 30% equity and 70% project financing. Altenergy is looking to partner with other developers while maintaining majority ownership in each project company.
Magbanua said that the goal is to have “majority stakes in these projects, at least 51 percent or 50% plus one share.” Alternergy is in talks with other potential local and foreign partners, but definite partnerships have yet to be closed.
Alternergy will be debuting on the Philippine Stock Exchange through an initial public offering of Php 1.87 billion
Alternergy is looking to fully contract its Solana solar project in Hermosa, Bataan which is 50% contracted.
Its first international energy project, a $29 million solar photovoltaic (PV) and battery storage in Palau, is already fully contracted through a bilateral agreement with Palau Public Utilities Corp. (PPUC)
As for its wind projects, Alternergy will be lining up for the second round of the green energy auction program (GEAP).
Meanwhile, Magbanua said that their run-of-river hydro projects are eyeing to secure feed-in-tariff (FIT) perks following the extension of the system for this particular technology due to low uptake.
Alternergy is looking to build 1.4 gigawatts of renewable energy portfolio in the next five years.
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