Denmark firm to aid in Alternergy Wind Projects

Alternergy, K2M

Alternergy Holdings Corporation (Alternergy) has collaborated with K2 Management (K2M), a project management firm in Denmark that specializes in energy transition, to facilitate the progress and construction of two onshore wind power projects.

In a disclosure to the Philippine Stock Exchange (PSE), K2M was appointed as the Owner’s Engineer (OE) to support the Alabat Wind Project in Quezon and the Tanay Wind Project in Rizal.

This appointment came after a competitive selection process involving six companies. 

“We are thrilled to be part of Alternergy’s ongoing work in the Philippines. By leveraging our international consultants, local expertise, and collaborating closely with Alternergy’s team, we are well-positioned to ensure the successful development and construction of these two pioneering projects,” said K2M Taiwan and Philippines Country Director Scott Hsu. 

Alternergy reported that the Danish company will assist with the two wind projects’ evaluations of designs, construction oversight, site management, and quality monitoring processes within a multi-contracting system. 

“We look forward to working with K2M as we seek to ensure that this momentum continues. Leveraging insights from an independent advisor, whose expertise has come from established markets globally, was the natural choice for us as we aim to deliver clean and sustainable power,” said Alternergy Wind Group President Knud Hedeager.

After securing an offtake in the Green Energy Auction 2 (GEA 2), Alternergy is rapidly advancing the development of the Tanay and Alabat Wind Projects. The company engaged in consecutive corporate finance activities to secure the necessary financing. 

This October, Alternergy stockholders endorsed the reclassification of its preferred shares into three Series of non-voting perpetual preferred shares. 

To raise the project finance structure amounting to Php12 billion for the Tanay and Alabat Wind Power Projects, Alternergy enlisted the support of three lead arrangers—BPI Capital, RCBC Capital, and SB Capital.