RENEWABLE energy (RE) firm Alternergy Holdings Corp. has consolidated all its land holdings under a newly created company, Triple Play Land Corp. (3PLCo).
3PLCo will eventually be used as a platform for real estate investment trust, said Gerry Magbanua, Alternergy president.
3PLCo is expected to have a “diverse holdings of complementary renewable power assets,” Magbanua said.
Alternergy recently completed its acquisition of the issued and outstanding capital stock of Alternergy Solar Holdings Corp. (ASHC) as its 100 percent owner.
The move is part of its ongoing restructuring to organize its RE technologies into separate intermediate holding companies to bring in operational efficiency and open new markets and access to larger capital resources, the company added.
ASHC will hold Alternergy’s solar energy portfolio similar to the existing Alternergy Wind Holdings Corp. for wind and Alternergy Mini Hydro Holdings Corp. for hydro.
Alternergy targets to achieve a portfolio of 500 megawatts (MW) of RE by 2026. At present, it has 86 MW in its RE portfolio. — Jed Macapagal
