Renewable energy developer Alternergy Holdings Corp. projects completing two run-of-river hydro projects with a total capacity of 22 megawatts (MW) by next year.
Gerry Magbanua, Alternergy president, told reporters the company is a minority shareholder in the Dupinga and Kiangan run-of-river hydro projects set for completion by late this year or early 2025.
Alternergy said its partner at the 4.6 MW Dupinga hydro project in Nueva Ecija is Markham Resources Corp. Its partners at the 17.4 MW Kiangan hydro project in Ifugao Province are Renova and Sta. Clara International Corp.
“At the moment, we’re really just focused on bringing these projects off the ground because while we like to continue working with partners, sometimes it takes time to put together a group of partners,” Magbanua said.
Only last week Alternergy said it raised capital funds of P20 billion just 15 months from its initial public offering in March 2023.
The funds will accelerate the construction of 204 MW in new capacity seen coming online by 2025, including the 11- MW Tanay wind power project, the 64-MW Alabat wind power project in Quezon Province and the 2- MW Solana solar power project in Hermosa, Bataan.
Magbanua said P10 billion will fund the Tanay project, P7 billion for the Alabat project, P1.3 billion for the Solana project and the balance to “keep building a pipeline of projects.”
