The Department of Energy (DOE) issued a declaration of commerciality, allowing the Alabat and Tanay wind projects to transition to development stage from pre-development, Alternergy Holdings Corp. said Tuesday.
Alternergy said in a disclosure to the Philippine Stock Exchange (PSE) the DOE awarded both projects their respective certificate of confirmation of commerciality (CoCoC).
“The CoCoC serves as the DOE’s notice to proceed to any renewable energy developer to start the development stage after a thorough review of the technical, financial and legal documentation of the project. The CoCoC issued by the DOE is a significant certificate affirming that our Alabat and Tanay wind power projects are commercially viable,” said Gerry Magbanua, president of Alternergy and Alabat Wind Power Corp. (AWPC), the project company.
Alternergy completed and signed the key commercial contracts, particularly the wind turbine supply and the balance of plant (BOP) engineering, procurement and construction (EPC) contracts for the wind projects.
Alternergy awarded the wind turbine supply agreement to Envision Energy, a global leader in green technology last month.
It announced early this week the signing of the BOP EPC agreement with China Energy Engineering Group Guangdong Electric Power Design Institute Co. Ltd. (GEDI) and GEDI Construction Development Corp. (GCDC), a Philippine subsidiary of GEDI.
“The Alabat and Tanay wind power projects are indeed ready to proceed to construction stage. Alternergy will be building up to 174 MW [megawatts] of new wind capacities in the next 20 months,” said Knud Hedeager, president of Alternergy Wind Holdings Corp., the sub-holding company for Alternergy’s wind projects and Alternergy Tanay Wind Corp. (ATWC), the project company for the Tanay wind power project.
“With the commercial contracts in place, Alternergy is moving as scheduled to issue the notice to proceed to construction by April,” Hedeager said.
Magbanua said that since Alternergy won bids under the Green Energy Auction 2 (GEA 2) Program in July 2023, the company has been under an accelerated development phase in the last eight months.
Alternergy is a renewable power company whose projects include wind, run-of-river hydro, solar farm and commercial rooftop, battery storage and offshore wind projects. It aims to develop up to 474 MW of additional wind, solar, and run of river hydro projects in the next three years.