Alternergy Holdings Corp., chaired by former Energy Secretary Vicente Perez, has secured two wind projects in Quezon Province from CleanTech Global Renewables Inc., which have a combined capacity of 246 megawatts (MW).
In a disclosure on Monday, the listed renewable energy developer said its subsidiary, Calavite Passage Wind Power Corp., acquired the assets, permits, and contracts of CleanTech’s Tayabas North and Tayabas South projects through a deed of assignment.
The transaction value, however, was not disclosed. Mabuhay Capital served as financial advisor for the deal, which still requires approval from the Department of Energy.
“We are excited to develop our second wind project in Quezon Province after our 64 MW Alabat Wind Project is completed in early 2026,” Gerry P. Magbanua, president of Alternergy, said in a statement. “The Quezon Provincial government, led by Governor Helen Tan, has been proactive in attracting renewable investments in her province.”
CleanTech CEO Salvador Antonio Castro Jr. added: “We look forward to co-developing these wind projects with Alternergy, the pioneer in wind energy in the country.” CleanTech retained an equity stake in both projects and may co-invest further.
The Tayabas North facility, with a planned capacity of 96 MW, holds Wind Energy Service Contract (WESC) No. 2022-06-208 and was among the qualified bids under the Department of Energy’s fourth Green Energy Auction. It is scheduled for completion in 2028.
The Tayabas South project, with 150 MW of potential capacity under WESC No. 2021-10-186, will be developed alongside North, though its timeline hinges on securing an offtake agreement.
Alternergy said the Tayabas ventures will feed into its growth pipeline beyond its initial 500 MW of projects.
