Alternergy Holdings Corp. through its wind arm Pililla AVPC Corp. (PACO), has been granted exclusive rights to explore, develop and utilize wind resources in the Tablas Strait separating Oriental Mindoro and Antique.
The company said the three wind energy service contracts (WESC) awarded by the Department of Energy (DOE) this month cover about 120,000 hectares.
“The Tablas strait offshore wind power projects awarded to PACO were subjected to rigid technical, legal and financial review by the DOE since July 2022,” said Knud Hedeager, PACO chief executive officer, in a statement.
“Our Tablas Strait offshore wind power projects are located in one of the zones identified by a World Bank study that is most suited to offshore wind development. We look forward to proceeding with the pre-development activities, particularly technical studies and resource assessment,” Hedeager added.
The company earlier secured an offshore WESC over the Calavite Passage last year.
Alternergy is co-developing offshore wind power projects with Shell Overseas Investment B.V. as its strategic partner that is expected to bring in “global track record, supply chain access and technical expertise in developing large-scale bottom-fixed and floating offshore wind projects.”
Alternergy aims to develop up to 1,370 megawatts of additional wind, offshore wind, solar and run-of-river hydro projects in the next five years.
The company said that part of the proceeds of its upcoming initial public offering will be used to fund the pre-development activities of its pipeline of projects, including the offshore wind power projects. – Jed. Macapagal
