Philippines-Based Altenergy is Awarded Three Offshore Wind Projects by DOE

Wind Industry Experts Bat For Extending PLI For Component Makers 

Alternergy Holdings Corporation, which develops renewable energy projects across the Philippines, has won three service offshore wind project contracts. These projects are over Tablas Strait which separates Mindoro and Antique.

Alternergy revealed that it was awarded the contract by the Department of Energy (DOE) to Pililla AVPC Corp (PACO), which is the wind energy unit of the firm. The said project encompasses 120,000 hectares of area.

“Our Tablas strait offshore wind power projects are located in one of the zones identified by a World Bank study that is most suited to offshore wind development. We look forward to proceeding with the pre-development activities, particularly technical studies and resource assessment,” Chief Executive Officer at PACO Knud Hedeager, maintained. The DOE has been doing a stringent review of all aspects of the project since July last year, he added.

Presently, the subsidiary has in its kitty four offshore wind energy service contracts. In 2022, the DOE had awarded the service contract for Calavite Passage. The offshore wind power projects will be developed via the partnership of Alternergy with Shell Overseas Investments B.V.

Notably, the firm is ready to be listed at the Philippine Stock Exchange (PSE) to take place on March 24, 2023. The proceeds from its initial public offering (IPO) will be employed for pipeline projects, which will also entail offshore wind projects.

Alternergy has set sights on developing 1,370 megawatts of renewable energy projects, which will entail wind, offshore wind, solar along with hydro projects.