Alternergy Holdings Corp., a leading player in the renewable energy sector, is making significant strides toward its goal of reaching a 500-megawatt capacity by 2026.
The listed company recently initiated the full-scale construction of three new projects: the Tanay Wind Power Project, the Alabat Wind Power Project, and the Solana Solar Power Project. These developments are set to add a substantial 220 MW of capacity.
Alternergy President Gerry P. Magbanua said the development of the two wind projects are now in full swing while the solar farm has been allowed to proceed with construction. He said the projects should significantly contribute to generation capacity in two years.
“These three projects combined with our Dupinga and Kiangan run-of-river hydro power projects that have been in construction would add 242 MW of capacity by end of 2025,” Magbanua said.
The aggressive expansion of Alternergy is fueled by significant financial backing.
Since its initial public offering in March 2023, Alternergy has raised P20 billion, with P15.3 billion accumulated in recent months.
The financing strategy includes an P8-billion project finance loan from the Bank of the Philippine Islands and Security Bank for the Tanay Wind Power Project, a P5.3 billion facility from Rizal Commercial Bank Corporation for the Alabat Wind Power Project, and a P2 billion Green Corporate Loan with BDO Unibank, Inc.
“The strong support from the banks and other financial institutions has paved the way to accelerate the development of these projects,” Magbanua said.
Alternergy is also advancing the Liberty aqua voltaic solar power project in Paniqui, Tarlac. This innovative 80-MW project aims to integrate solar power with aquaculture, combining renewable energy generation with water management. With technical studies—including geotechnical, hydrological, and topographical analyses—completed, the project is progressing through the permitting phase, with an objective to make it shovel-ready by next year.
Alternergy expansion strategy is aligned with the Philippine government’s targets to boost the share of renewable energy to 35 percent by 2030 and 50.
