Alternergy Holdings Corp. said Monday it is acquiring a majority interest in the 80-megawatt (MW) Alegria Cebu Wind Power Project, marking the company’s first wind power venture in the Visayas Grid.
The estimated project cost for the Alegria Cebu Wind Power Project is P7.93 billion, according to a disclosure to the Philippine Stock Exchange (PSE).
Alternergy Wind Holdings Corp. (AWHC), the company’s wind investment holding unit, will acquire a 95-percent equity stake in MC Project Solutions Inc. (MCPSI), which is developing the project under Wind Energy Service Contract No. 2024-05-402.
The Alegria Cebu Wind Power Project is in the pre-development stage and has an estimated capacity of at least 56 MW up to 80 MW. It was one of the winning bidders in the Department of Energy’s (DOE) Fourth Green Energy Auction (GEA-4) held on September 2, 2025, and has a committed delivery date in late 2028 under GEA-4.
“We are excited to develop our first wind project in Cebu which marks a significant step in expanding our renewable energy portfolio into the Visayas Grid,” said Alternergy president Gerry Magbanua.
The acquisition will contribute to Alternergy’s goal of achieving 1 gigawatt (GW) of renewable energy capacity by 2030.
“Given the track record of Alternergy in wind project development, we are pleased to collaborate with Alternergy in developing the first wind energy undertaking on the island of Cebu,” said MCPS chief executive Pedro Pascual.
Alternergy is a renewable power pioneer with a portfolio of project companies engaged in various renewable energy ventures, including wind, run-of-river hydro, solar farm and commercial rooftop, battery storage and offshore wind projects.
The company has four projects under advanced construction for completion in the fourth quarter of 2025 and first quarter of 2026 as part of its “Road to 500MW by 2026.”
