Alternergy Holdings Corp. said Thursday wholly-owned subsidiary Alternergy Tanay Wind Corp. received proposals from major international and local energy companies to co-develop the proposed 100-megawatt Tanay wind power project in Tanay, Rizal.
Alternergy president Gerry Magbanua said one of the three interested companies is part of one of the world’s largest energy companies based in Europe.
He said the other is a regional renewable energy company with a portfolio of wind and solar projects across the Asia Pacific region. Another interested investor is a major domestic energy player which is a part of a conglomerate.
“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,” Magbanua said.
The Tanay wind power project is a shovel-ready project with major permits obtained, with available four-year wind data. The project completed several technical studies including the logistics, environmental and energy assessment. It also received height clearance approval from the Civil Aviation Authority of the Philippines.
It is part of its robust expansion plans of Alternergy in the next five years. Alternergy aims to develop up to 1,370 MW of additional wind, offshore wind, solar and run of river hydro projects in the short-term.
A part of the proceeds from Alternergy’s initial public offering will be used to fund the development activities of pipeline of projects, including the Tanay wind power project.