Alternergy Holdings Corporation has moved to expand its renewable footprint in the Visayas with the acquisition of the Alegria Cebu Wind Power Project, its first wind venture in the region.
The company disclosed to the Philippine Stock Exchange that its wind investment arm, Alternergy Wind Holdings Corporation (AWHC), will acquire a 95 percent stake in MC Project Solutions Inc. (MCPSI), developer of the roughly 80-megaWatt project covered by Wind Energy Service Contract No. 2024-05-402.
Alternergy said the Alegria project, with an estimated capacity of 56 MW to 80 MW, was selected as one of the winning bids in the Department of Energy’s Fourth Green Energy Auction held on September 2. Now in the pre-development stage, the project is committed to start delivering power by late 2028.
“We are excited to develop our first wind project in Cebu which marks a significant step in expanding our renewable energy portfolio into the Visayas Grid,” said Gerry P. Magbanua, Alternergy president. He added that the acquisition advances the company’s goal of reaching 1 gigawatt of renewable capacity by 2030.
MCPSI CEO Pedro Pascual welcomed the deal. “Given the track record of Alternergy in wind project development, we are pleased to collaborate with Alternergy in developing the first wind energy undertaking on the island of Cebu,” he said.
