Alternergy Holdings Corp. said Friday its wholly-owned wind sub-holding Alternergy Wind Holdings Corp. acquired the entire interest of Shell Overseas Investment B.V. in Tablas Strait Offshore Wind Power Corp. (TSOWPC) which is developing the Tablas Strait 1, 2 and 3 offshore wind facilities.
“ALTER is bullish on the prospect of the offshore wind power in the Philippines, a priority of the PBBM Administration. Beyond our 500 MW capacity target by 2026, our Tablas offshore wind projects form part of the next pipeline of projects. With full control of the Tablas Projects, we are eager to proceed at a more accelerated pace,” AWHC president Knud Hedeager said.
Prior to the acquisition, Alternergy owned a 60-percent interest in TSOWPC, with Shell taking the remaining 40 percent. Alternergy did not disclose the transaction price.
Hedeager underscored the potential of the Tablas projects following the conduct of an initial study to assess the technical feasibility of the projects.
“The initial study indicated the projects are viable. We will build on the results of this study and move forward with pre-development activities. In time, we expect to initiate collaboration with interested third parties to realize the Tablas Projects,” he said.
Hedeager also highlighted the positive developments in OSW spearheaded by the Department of Energy (DOE).
These include the recent agreement between the DOE and the Department of Environment and Natural Resources (DENR) to simplify the issuance of an environmental compliance certificate (ECC) for offshore wind energy projects.
He also noted the collaboration between DOE and the Philippine Ports Authority (PPA) to repurpose and modernize ports infrastructures initially at three locations, which includes the Port of Batangas in Batangas City, the nearest port to the Tablas Projects.
He said another positive development is the ongoing Batangas-Mindoro Interconnection (BMIP) Project, which will serve as the highway to transport power coming from the Mindoro Province, including the Tablas Projects, to the main load center.
The National Grid Corporation of the Philippines (NGCP) is expected to complete the BMIP project by 2027.
