ALTERNERGY Holdings Corp. announced Monday it is acquiring a majority interest in two wind power projects in Quezon province from CleanTech Global Renewables Inc. The Tayabas North and Tayabas South wind energy projects have a combined capacity of 246 megawatts.
In a disclosure to the Philippine Stock Exchange, Alternergy said its special purpose company, Calavite Passage Wind Power Corp., is acquiring the project assets, permits, and related contracts for the Tayabas projects.
This includes the Tayabas North Wind Energy Project (covered by Wind Energy Service Contract No. 2022-06-208) and the Tayabas South Wind Energy Project (covered by WESC No. 2021-10-186).
The company did not disclose the acquisition cost, citing confidentiality.
The Tayabas North project, with an estimated capacity of at least 96 MW, was a qualified bid in the fourth Green Energy Auction held by the Department of Energy on Sept. 2. It was included in the DOE’s preliminary list of accepted bids released on Sept. 5 and is expected to be completed by 2028.
The 150-MW Tayabas South project is being developed simultaneously with the Tayabas North project but the completion date is awaiting an offtake agreement.
“We are excited to develop our second wind project in Quezon Province after our 64-MW Alabat wind project is completed in early 2026,” said Alternergy president Gerry Magbanua.
He noted that the Quezon provincial government, led by Governor Dra. Helen Tan, has been proactive in attracting renewable energy investments.
The acquisition of the Tayabas wind projects is part of Alternergy’s project pipeline beyond its first 500 MW.
“We look forward to co-developing these wind projects with Alternergy, the pioneer in wind energy in the country,” said CleanTech chief executive Salvador Antonio Castro Jr.
He added that CleanTech will retain an equity stake in both projects and has an option to co-invest further.
Mabuhay Capital served as the financial adviser for the transaction. The asset transfer is subject to regulatory approval by the Department of Energy.
