Renewable energy company Alternergy Holdings Corp. recently established land holding firm Triple Play Land Corp. (3PLCo) to centralize its land assets in various renewable energy (RE) projects, including wind, solar, and run-of-river hydro.
The strategic move aims to enhance operational efficiency and position the company for growth as a real estate investment trust (REIT), according to Alternergy president Gerry Magbanua.
In addition to consolidation, Alternergy has completed the acquisition of Alternergy Solar Holdings Corp. (ASHC), further streamlining its operations.
ASHC will oversee the company’s solar energy initiatives, complementing existing divisions for wind and hydro energy.
This restructuring is part of Alternergy’s broader plan to optimize its renewable technologies and secure larger capital resources, with a goal of achieving a total capacity of 500 megawatts (MW) by 2026, up from its current portfolio of only 86 MW.
These developments reflect Alternergy’s commitment to advancing its renewable energy initiatives and expanding its market presence.
