The Pililla AVPC Corp. (PACO), subsidiary wind energy unit of Alternergy Holdings Corporation led by businessman Vince Perez, has exclusive rights to explore, develop and utilize wind resources in the Tablas Strait separating Oriental Mindoro and Antique.
This relates to three separate wind energy service contracts (WESC) it obtained from the Department of Energy (DOE) just this month covering 120,000 hectares.
“The Tablas strait offshore wind power projects awarded to PACO were subjected to rigid technical, legal and financial review by the DOE since July 2022,” said Knud Hedeager, PACO chief executive officer.
“Our Tablas Strait offshore wind power projects are located in one of the zones identified by a World Bank study that is most suited to offshore wind development. We look forward to proceeding with the pre-development activities, particularly technical studies and resource assessment,” Hedeager added.
Prior to this, the company also secured an offshore WESC over the Cavite Passage last year.
Alternergy is co-developing offshore wind power projects with Shell Overseas Investment B.V. as strategic partner designed to bring in “global track record, supply chain access and technical expertise in developing large-scale bottom-fixed and floating offshore wind projects.”
Alternergy seeks to develop up to 1,370 megawatts of additional wind, offshore wind, solar and run-of-river hydro projects in the next five years.
The company said a portion of proceeds from an upcoming initial public offering will finance the pre-development activities of pipeline of projects, including offshore wind power projects.
