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Alternergy's massive 64-MW wind project advances with PNR deal

Business | The Stock Market

Alternergy's massive 64-MW wind project advances with PNR deal

By Gabriell Christel Galang

Renewable power firm Alternergy Holdings Corporation announced that it will lease land from the Philippine National Railways (PNR) for the switching station of its Alabat Wind Power Project.

In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, Nov. 26, Alternergy stated that its subsidiary, Alabat Wind Power Corp. (APWC), will develop a switching station on a PNR property in Barangay Hondagua, Lopez, Quezon.

The firm has secured a long-term lease agreement with PNR, allowing it to build the electrical facility necessary for the Alabat Wind Power Project.

Deovanni S. Miranda, general manager of PNR, expressed his support for the wind project, stating, "our collaboration with Alternergy supports the government's renewable energy targets and is in line with PNR's sustainability goals."

Gerry P. Magbanua, Alternergy's president, expects the development of the 64-megawatt (MW) Alabat wind project to proceed at full speed.

"Together with PNR as one of our land lease partners, we are driving renewable energy growth in the country," he said.

The project is anticipated to be completed by the end of 2025, with a budget of approximately P7 billion.

In April, APWC signed an interconnection agreement with the National Grid Corporation of the Philippines (NGCP) to evacuate its renewable energy capacity through the 69-kilovolt (kV) Hondagua transmission line.

Previously, it received a Certificate of Confirmation of Commerciality (CoCoC) from the Department of Energy (DOE) and tapped China Energy Engineering Group Guangdong Electric Power Design Institute Co. Ltd. (GEDI) for the engineering, procurement, and construction (EPC) contract.

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Philippine National Railways Alternergy Holdings Corp.

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