‘The CoA framework is a landmark policy initiative by the current DOE under Energy Secretary Raphael Lotilla. It supports developers from the onset, thereby helping mitigate project risks and enhance overall project viability’
Alternergy Holdings Corp. (ALTER), through its wind subsidiary Alternergy Wind Holdings Corp. (AWHC), is setting up to build at least a 150-megawatt (MW) onshore wind project in Albay after it secured government approval.
In a bourse report, the listed renewable energy company said the Department of Energy (DoE) has granted AWHC a Certificate of Authority (CoA).
The approval gives the company an exclusive exploration and assessment of wind resources across several municipalities.
“Alternergy is pleased to receive the DoE’s approval to develop another wind project in Luzon,” AWHC president Knud Hedeager said.
“The CoA framework is a landmark policy initiative by the current DoE under Energy Secretary Raphael Lotilla. It supports developers from the onset, thereby helping mitigate project risks and enhance overall project viability.”
Under the CoA, AWHC has three years to conduct pre-feasibility studies and secure necessary permits. If commercially viable, the project will be converted into a 25-year Wind Energy Service Contract.
Conceptualized after the 2024 Albay Renewable Energy and Investment Summit, the 6,318-hectare project could accommodate at least 150 MW of wind capacity. It forms part of ALTER’s next expansion beyond its Road to 500MW by 2026 target.
“This is an exciting time for us as we are set to complete construction of our Tanay and Alabat Wind Power Projects this year, after which Alternergy will be moving forward with developing new wind projects,” Hedeager said.
The Albay wind project will be Alternergy’s fifth wind development in the country.
The company co-developed Southeast Asia’s first wind farm in Bangui Bay in 2005 and brought the Pililla Rizal wind farm into operation in 2015. It is currently constructing wind projects in Tanay, Rizal and Alabat, Quezon.
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