Alternergy Holdings Corp. successfully pursued wind projects sold by the Department of Energy (DOE) under the second iteration of its green energy auction or GEA.
Alternergy on Tuesday said it has secured two such certificates which are key documents needed by project lenders who are close to completing their due diligence and who target financial closure within the first three months next year.
The company said the certificates of award or COAs relate to wind energy projects in Tanay, Rizal and Alabat, Quezon with total capacity of up to 164 megawatts.
Gerry Magbanua, Alternergy president, said the DOE confirmation and subsequent COA issuance complete the 20-year off-take agreement the energy company has on two wind projects with the National Transmission Corp.
Magbanua said Alternergy has held a competitive bidding for equipment supply and construction contracts with construction to begin by the second quarter next year for the wind projects.
Alternergy eyes building 350 MW over the next three to five years broken down as 33 MW for solar, 220 MW for onshore wind and 50 MW for run-of-river hydro projects.
Alternergy has also partnered with Shell Overseas Investment B.V. to pursue offshore wind projects in the Philippines.
