Alternergy inks deal to buy into P 7.93-B Cebu wind farm
Renewable energy developer Alternergy Holdings Corp. has further beefed up its portfolio with the plan to take over a P7.93-billion wind project in Cebu.
In a disclosure on Monday, the firm said it would acquire the 80-megawatt (MW) Alegria Cebu wind power project, marking its first wind development in the Visayas.
Alternergy Wind Holdings Corp. will acquire a 95 percent stake in MC Project Solutions Inc., the developer of the wind farm.
The Alegria wind project has a service contract with the government after winning in the green power auction program of the Department of Energy.
Currently, the project is in the predevelopment stage. It is committed for commercial operations by late 2028.
“We are excited to develop our first wind project in Cebu, which marks a significant step in expanding our renewable energy portfolio into the Visayas grid”, said Gerry Magbanua, president of Alternergy.
MC Project Solutions Inc. chief executive Pedro Pascual added, “Given the track record of Alternergy in wind project development, we are pleased to collaborate with Alternergy in developing the first wind energy undertaking on the island of Cebu.”
Alternergy said securing the Alegria Cebu wind project would boost its target of firing up 1 gigawatt of clean energy by 2030.
Just in September, the company also said it was set to take control of two wind projects in Quezon, with a combined capacity of 246 MW.
Four projects are currently under advanced construction for completion in the last quarter of 2025 and early next year. These are 4.6-MW Dupinga run-of-river, 28-MW Balsik Solana, 64-MW Alabat wind and 128-MW Tanay Rizal wind projects.
