Alternergy’s 5 power plants switch on in ’25

Alternergy Holdings Corp. said Friday it is on track to hit its target of expanding its clean energy capacity to 500 megawatts (MW) by 2026 with more projects gaining headway.

Five renewable projects with an aggregate capacity of 242 MW will be operational by the last quarter of next year.

In a disclosure to the local bourse, its president Gerry Magbanua said the construction of the Tanay and Alabat wind power projects, and the Solana power project were already “in full swing.”

“These three projects combined with our Dupinga and Kiangan run-of-river hydropower projects that have been in construction would add 242 MW of capacity by the end of 2025,” he said.

For 2026, the listed company intends to focus on solar and wind developments in Luzon for the remaining 174 MW capacity needed to meet the goal.

Currently, the group’s capacity is at 86 MW.

Magbanua said Alternergy was also preparing for another solar project involving 80 MW capacity in Paniqui, Tarlac.

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“The technical studies for the Liberty aquavoltaic solar power project have been completed consisting of geotechnical, hydrological, and topographical studies. We are currently conducting other permitting requirements. Our goal is to bring this project shovel-ready by next year,” he said.

Aquavoltaics refer to the use of water areas for the combined purpose of producing electricity with solar photovoltaic technology and food through aquaculture.

Magbanua said the firm’s aggressive portfolio buildup had the backing of financial groups, with Alternergy raising about P20 billion in capital since going public in March last year.