Alternergy seeks go-ahead for P2.2-B project
The subsidiary of listed Alternergy Holdings Corp. formally sought the Energy Regulatory Commission’s (ERC) green light to proceed with the construction of a transmission facility designed to link its Tanay wind park to the Luzon grid.
Based on its filing at the ERC, Alternergy Tanay Wind Corp. (ATWC) intends to build dedicated point-to-point limited transmission facilities, with investments earmarked at P2.2 billion.
The project is meant to support its planned 112-megawatt (MW) wind power plant, for which the group intends to spend P10 billion.
To ensure that the plant could seamlessly deliver electricity into the grid, ATWC has proposed constructing a bus-in connection along the existing San Jose/ Balsik – Tayabas 500 kilovolt transmission line.
Initially, the company wanted to link the plant via direct connection to the proposed Baras Substation (Baras SS) of the National Grid Corp. of the Philippines.
However, results from its first system impact study showed that the Baras station will not be finished until 2034, nine years too late for the wind park’s commercial operations slated next year.
“Thus, ATWC sought an interim connection scheme because the first proposed connection of the TWPPP was not technically feasible by 2025 due to the construction timeline of the NGCP Baras SS,” the firm said.
“The TWPP is targeted to be operational by 2025. Hence, there is an urgent need for the immediate issuance of a provisional authority to start the construction of the interconnection project,” it added.
Last month, Alternergy said it was eyeing to boost its financial muscle with an additional P15 billion intended to fire up nearly 200 megawatts of renewables capacity.
Currently, it has 11 operating assets with a total combined capacity of 86 MW. By 2025, 225 MW would be added through the completion of four other developments.
The company also recently reported record-high earnings, booking P130 million for the business year ended June 2024, up from P38 million a year ago.
The group attributed this robust year to its strong revenues, which soared 60 percent to P275 million. This was fueled by its operating assets, particularly the Palau Solar and battery energy storage system project.
