Listed renewable energy firm Alternergy Holdings Corp. looks forward to selling its 17.4-megawatt Kiangan run-of-river hydro power output in Ifugao Province under the feed-in-tariff scheme.
Gerry Magbanua, Alternergy president, told reporters in Makati City the feed-in-tariff was among the number of options open to the company considering that it offers only a small fraction of the balance available under the FIT.
“Feed-in-tariff is not yet fully subscribed so there’s still about 168 MW available,” he said.
Alternatively also, there is the third round of the Green Energy Auctions or GEA-3 that’s potentially attractive to the company depending on the rate set by the regulator.
“And of course, there’s always the possibility of entering into a bilateral agreement with a potential offtaker,” Magbanua said.
Renewable energy firms enrolled at the FIT are assured of a fixed rate determined by the Energy Regulatory Commission (ERC), usually for a period of 20 years.
Under the GEA, renewable energy producers compete for fixed rates also set by the ERC.
The ERC has yet to determine run-of-river hydro rates for both the FIT and the GEA.
Magbanua also said Alternergy is keen on pursuing energy storage systems (ESS) having already had experience with the technology when it was tapped to do a 15.3-MW solar project with a 12.9-megawatt-hour ESS segment in Palau.
“We don’t have in-house facilities to manufacture the energy storage system, but that is something that can be obtained from reputable suppliers. So at the moment, we previously have experience at our Palau project. They have one leg up. We know them already although it doesn’t mean they’re a shoo-in in terms of our choice. We’ll look at the market and get the best provider,” Magbanua said.
Alternergy is preparing to raise P15 billion to add 191-MW to its project portfolio.
The company has five projects under construction with a combined capacity of 242 MW and expected to be operational by end-2025.
The renewable projects under construction include the Kiangan run-of-river project alongside the 128 MW Tanay wind power project in Rizal; the 64 MW Alabat wind power project in Quezon; the 28 MW-peak Solana solar power project in Bataan; and the 4.6 MW Dupinga run-of-river hydro project in Nueva Ecija.
Alternergy targets to gain a 500 MW renewable energy portfolio by 2026. It manages an existing renewable energy portfolio of 86 MW.
