Alternergy Holdings Corporation, which just had its debut at the Philippine Stock Exchange (PSE) this Friday, March 24, announced that it will be tapping equity partner for its 100-megawatt Tanay wind farm project in Rizal province. The company said it will do its selection process via the letters of intent (LOI) submitted by at least three groups which advanced interest for a targeted business tie-up with the RE pioneer player. Alternergy President Gerry P. Magbanua indicated that their subsidiary Alternergy Tanay Wind Corporation received strong interest from three major energy companies following the request for proposals due in March 2023. “We will proceed next to review their respective proposals to finalize the selection of our preferred equity partner,” said Magbanua following the company’s receipt of the LOIs, There was no specific percentage given yet on what it would be offering to its prospective business partner, although company executives previously stated that Alternergy would opt having majority shareholdings of at least 51-percent or 50-percent plus one share. The candidate-firms vying for prospective joint venture with Alternergy include a European energy company; another is a player in the solar and wind energy development space in the Asia Pacific region; and the third contender is part of a Philippine conglomerate. The blueprinted Tanay wind power facility is among the projects to be advanced by Alternergy to concretize its clean energy generation buildup that is seen reaching 1,370 megawatts within five years. That wind farm development, according to Alternergy, is already at its shovel-ready phase; and major permits were already secured - including the wind data that will underpin the propounded 100MW installation for the plant. Alternergy noted that technical studies had likewise been completed, including those on logistics, environmental and energy assessment; and one of the major milestones recently accomplished had been the height clearance approval from the Civil Aviation Authority of the Philippines (CAAP). The company reiterated that the onshore Tanay wind farm project is part of the RE development portfolio that it will be advancing; along with other technologies like solar, run-of-river hydro, offshore wind and even solar rooftop installations. On the completion of its initial public offering (IPO) at the local bourse, Alternergy emphasized that bulk of its proceeds will be funneled to its line-up of projects that are now under various stages of development.