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Exciting news! ALTERNERGY Holdings Corp. is stepping into the Visayas renewable energy scene by acquiring a majority stake in the development of the 80-megawatt (MW) Alegria Cebu Wind Project through its wind subsidiary.
On Monday, Alternergy announced that its fully owned unit, Alternergy Wind Holdings Corp. (AWHC), is gearing up to snag a 95% equity stake in MC Project Solutions, Inc. (MCPSI), the team behind the Alegria Cebu Wind Project.
“By acquiring MCPSI, AWHC is making a big leap towards expanding Alternergy’s renewable energy offerings in the Visayas Grid,” the company stated.
This fabulous wind project was one of the champions in the Department of Energy’s (DoE) fourth green energy auction held last September.
The GEA-4 projects showcase a variety of technologies including ground-mounted, roof-mounted, and floating solar, onshore wind, and integrated renewable energy and storage systems (IRESS).
The GEA program aims to elevate renewables as a primary energy source, with a supply contract for winning projects running for 20 years from when commercial operations kick off.
Alternergy notes that the Alegria Cebu Wind Project is currently in the pre-development stage, with an exciting delivery date set for 2028.
“We’re thrilled to be working on our first wind project in Cebu—this is a key milestone in enhancing our renewable energy portfolio in the Visayas grid,” said Alternergy President Gerry P. Magbanua.
This acquisition also helps Alternergy move towards its goal of achieving around 1 gigawatt of renewable energy capacity by 2030.
On Monday, shares of Alternergy climbed by six centavos, or 7.41%, closing at 87 centavos each. — Ashley Erika O. Jose
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