Alternergy Holdings Corp. has received the green light from the Quezon Provincial Development Council (PDC) for its 55-megawatt (MW) Alabat Wind Power Project, which is expected to kick off by the second quarter of 2024.
The provincial government of Quezon has expressed its support for the wind project, recognizing its potential benefits to the socioeconomic development of the area and its residents. This initiative aligns with the region’s vision of optimized resource utilization and infrastructure development.
The Alabat Wind Power Project is dedicated to providing sustainable energy and growth in the community, said Alternergy President Gerry P. Magbanua. Furthermore, he envisions that the company will be a long-term partner for the development of both Alabat Island and the entire Quezon province.
In preparation for its expansive ventures, the renewable energy provider announced that it had partnered with BPI Capital Corp., RCBC Capital Corp., and SB Capital Investment Corp. These partnerships aim to raise Php 12 billion to fund its two upcoming wind projects.
Notably, Alternergy secured the projects through its subsidiary, Alternergy Tanay Wind Corp., as part of the Department of Energy’s Green Energy Auction Program – a testament to the firm’s dedication to sustainable energy.