Alternergy Holdings Corp. subsidiary Alternergy Tanay Wind Corp. (ATWC) has signed a revenue-sharing agreement with the provincial government of Rizal.
It told the Philippine Stock Exchange Tuesday the contract was in respect of its use of parcels of land in Tanay, Rizal for the development and implementation of the Tanay onshore wind project.
Agreement details were not released but documents were signed by Alternergy chairman Vicente Perez Jr., Alternergy president Gerry Magbanua and Rizal Governor Nina Ricci Ynares.
Earlier, Alternergy tapped three investment banks as lead arrangers of the P12 billion project for the construction of two wind power programs won at the second Green Energy Auction (GEA2).
Alternergy issued the mandate to BPI Capital, RCBC Capital and SB Capital to assist the company in finalizing terms and structure of the debt financing for wind power facilities in Tanay, Rizal and in Alabat, Quezon.
The projects have a capacity of up to 164 megawatts (MW) and set for completion by 2025.
