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Altenergy inks lease deal with Rizal gov't

Business

Altenergy inks lease deal with Rizal gov't

By Manila Bulletin

At A Glance

Altenergy Tanay Wind Corp. (ATWC) has entered into a revenue-sharing deal with the Rizal provincial government for a wind power project.<br>The project involves the development and implementation of the Tanay onshore wind project.<br>The Tanay Wind Power Project has a potential capacity of 99.2 million watts (MW).<br>It is expected to generate an estimated annual net generation of 252.9 gigawatt hours (GWh).

Altenergy Tanay Wind Corp. (ATWC) has forged a revenue-sharing agreement with the provincial government of Rizal for a wind power project.

In a disclosure to the Philippine Stock Exchange on Tuesday, Oct. 10, ATWC, a subsidiary of Alternergy Holdings Corp., announced the signing of a lease contract with a revenue-sharing agreement with the local government of Rizal.

ATWC said the agreement is for the usage of specific plots of land in Rizal for the development and implementation of the Tanay onshore wind project.

“The Chairman, Mr. Vicente S. Perez, Jr. and President, Mr. Gerry P. Magbanua signed on behalf of ATWC while Governor Nina Ricci A. Ynares represented the province,” the company said.

The Wind Power Project in Tanay is said to have a potential capacity of 99.2 million watts (MW) and an estimated annual net generation of 252.9 gigawatt hours (GWh).

This project is deemed to be an alternate source of energy, especially as it is close to the main power demand in Luzon.

Tanay has become an ideal spot for the creation of a new wind farm due to its hilly and mountainous geography and has therefore partnered with the Rizal Provincial Government for its construction.

According to Alternergy, once permits and extensive technical studies have been made and accomplished, the Tanay wind farm would establish a reliable source of clean energy and give economic prosperity in Rizal. (Gabriell Christel Galang)

Related Tags

Alternergy Holdings Corporation renewable energy tanay wind farm

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