Alternergy Holdings Corp. said its subsidiary Alternergy Tanay Wind Corp. received proposals from international and local energy companies to co-develop the proposed Tanay wind power project in Rizal province.
“We have received strong interest from three major energy companies following the request for proposals due in March 2023. The official letters of intent have been received and we will proceed next to review their respective proposals to finalize the selection of our preferred equity partner,” said Gerry Magbanua, Alternergy president, in a statement.
Alternergy did not identify the interested parties but said one of them is part of one of the world’s largest energy companies based in Europe. Another party is a regional renewable energy company with a portfolio of wind and solar projects across Asia Pacific region while the third is a major domestic energy player that is part of a Philippine conglomerate.
Alternergy said its proposed Tanay wind power facility has a 100 megawatts (MW) potential and considered “shovel-ready” as it has secured major permits and a wind data of four years while also completing several technical studies including logistics, environmental and energy assessment.
The project also received height clearance approval from the Civil Aviation Authority of the Philippines.
Alternergy is set to spend up to P20 billion in the next three to five years to fund as much as 350 MW of new energy projects.
