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Manila Bulletin devider Business devider Alternergy takes full control of tablas wind projects

Alternergy takes full control of tablas wind projects

Published Nov 8, 2024 09:32 am

Renewable energy firm Alternergy Holdings Corporation announced the acquisition of three offshore wind power projects in Tablas, Romblon.

In a disclosure to the Philippine Stock Exchange on Friday, Nov. 8, Alternergy said that its wind sub-holding, Alternergy Wind Holdings Corp. (AWHC), obtained the interest of Shell Overseas Investment B.V. in Tablas Strait Offshore Wind Power Corporation (TSOPWC), which manages the three projects.

Knud Hedeager, AWHC president, stated that this acquisition will help pursue the company's goal of expanding offshore wind power in the country.

“ALTER is bullish on the prospect of offshore wind (OSW) power in the Philippines, a priority of the PBBM Administration. Beyond our 500 MW capacity target by 2026, our Tablas offshore wind projects form part of the next pipeline of projects. With full control of the Tablas Projects, we are eager to proceed at an accelerated pace,” he said.

According to Alternergy, initial studies for the Tablas projects showed viability, and pre-development will proceed. The company stated, “In time, we expect to initiate collaboration with interested third parties to realize the Tablas Projects.”

Hedeager also cited regulatory developments and government efforts that will facilitate development.

Last month, the Department of Energy (DOE) and the Department of Environment and Natural Resources (DENR) signed an agreement to simplify issuing environmental compliance certificates for offshore wind projects.

The agreement allows access to both offshore and auxiliary areas during the pre-development, development, and commercial stages, provided they meet DENR requirements.

Additionally, the DOE has collaborated with the Philippine Ports Authority (PPA) to refurbish port infrastructure, including the one in Batangas, which is closer to the Tablas projects.

“Another positive development is the ongoing Batangas-Mindoro Interconnection (BMIP) Project, which will serve as the highway to transport power from Mindoro Province, including the Tablas Projects, to the main load center,” Alternergy stated.

The BMIP is set to be completed by 2027.

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