Investment History
These milestones below have paved the path for Alternergy’s success – past, present, and future.
November 2023
State-run pension fund Government Service Insurance System (GSIS) and Alternergy jointly announced the subscription by GSIS to P1.45 billion of Alternergy’s Perpetual Preferred Shares 2 Series A under a private placement.
August 2023
In commemoration of its 15 years in the RE business, Alternergy organized a team-building activity to create a stronger and more cohesive unit who will work efficiently and harmoniously towards a common goal
July 2023
Alternergy won all three RE projects with 208 MW gross installed capacity which it bid at the Green Energy Auction 2 initiated by the DOE
July 2023
Solana Solar Alpha, Inc. cement power supply agreement with Kratos RES, a subsidiary of Prime Asset Ventures, Inc. (PAVI) of the Villar Group
June 2023
SPEC launched the Republic of Palau’s first solar and battery energy storage (BESS) project in Ngatpang state on Babeldoab Island—The largest of its kind in the Western Pacific region and one of the most significant foreign direct investments in the island nation with a total project cost of USD29 million
June 2023
Solar Pacific Energy Corporation appoints DNV, a Norwegian construction company, as l as Owners Engineer for the 15.3 MW solar power and 12.9 MWh battery in its solar project in Palau in Western Pacific
March 2023
Alternergy debuted at the Philippine Stock Exchange raising PHP1.6 billion from
its initial public offering—it is the first IPO for the year
February 2023
PACO bags three additional wind service contracts from the Department of Energy
for the Tablas Strait Offshore Wind Project
November 2022
Alternergy via its subsidiary, Pililia AVPC Corporation (PACO) and Shell Overseas Investment B.V. sealed partnership for offshore wind farm development at the Calavite Passage in Mindoro
November 2022
Alternergy and Exeter Portofino Holdings partnered for the development of the Lamut-Asipulo hydro power project; both partners share the same commitment to sustainability and local communities, improvement of cultural and preservation of the Ifugao Heritage Sites
October 2022
Installs 10th meteorological mast on Alabat island in Quezon province to harness the northeast monsoon through its wind power project
September 2022
Alternergy’s 4.6 MW Dupinga Mini Hydro Project secured power supply deal with Nueva Ecija Electric Cooperative II-Area 2
September 2022
Joint venture in offshore wind with Shell Overseas Investments
August 2022
DOE extends pre-development period for Tanay Wind Projecf
August 2022
Alternergy increase ownership in Solar Pacific
June 2022
Alternergy acquire majority ownership of Kirahon Solar Energy Corp
June 2022
DBP approved P1 billion loan facility for Lamut-Asipulo hydro project
April 2022
Solar Pacific Pristine Power reach financial close with Export Finance Australia and DFAT for its Palau Solar Battery Project
March 2022
Exeter Portofino signed Investment Agreement with Lamut-Asipulo Mini Hydro Corporation
March 2022
Pililla AVPC Corporation awarded DOE Offshore Wind Service Contract for Calavite Passage in western Mindoro
February 2022
Nueva Ecija Electric Cooperative Area 2 signed 4.6MW PSA with Dupinga Mini Hydro Corporation
January 2022
Solana Solar Alpha signed 10MWac PSA with Peninsula Electric Cooperative
December 2021
On visit to Palau, Australia Trade Minister Marise Payne announces funding for Solar Pacific Pristine Power
August 2021
National Commission Indigenous Peoples approved MOA with Indigenous Peoples of Asipulo and Lamut for Lamut-Asipulo Mini Hydro project
July 2021
China Bank extend medium term facility to Alternergy Holdings
July 2021
Solar Pacific CitySun received Certificates of Confirmation of Commerciality for three additional mall solar rooftops in Negros
April 2021
Renova Renewables of Japan and Sta. Clara International signed Investment agreement for Kiangan Mini Hydro project
April 2021
Solar Pacific signed PPA with Palau Public Utilities Corporation for its Palau Solar and Battery Storage Project
December 2020
Land for Solana Solar Alpha project acquired by Solar Pacific
October 2020
Lamut-Asipulo Mini Hydro Project obtained ECC from DENR
September 2020
Solar Pacific signed Term Sheet for project financing with Australia Infrastructure Financing Facility for the Pacific (AIFFP)
June 2020
Energy Regulatory Commission issued Retail Electricity Supplier (RES) license for GESSI
June 2020
Groundbreaking of Dupinga Mini Hydro Project in Gabaldon, Nueva Ecija
May 2020
Solar Pacific selected First Ranked Bidder after competitive bidding with Palau Public Utilities Corporation, Alternergy’s first project outside the Philippines
January 2020
Dupinga Mini Hydro Project signed contracts with UHBP, AIP Construction, and Gugler of Austria
December 2019
Alternergy Tanay Wind Corporation awarded Wind Service Contract for Alabat Island in Quezon Province
September 2019
Solar Pacific acquired Solana Solar Alpha Inc.’s project in Hermosa, Bataan
August 2019
Dupinga Mini Hydro Project signed P660 million project financing with DBP
June 2019
Dupinga Mini Hydro Project obtained DOE Amended Confirmation of Commerciality
May 2019
Solar Pacific CitySun’s solar rooftops began operations on two more CityMalls
April 2019
Met mast and Lidar on Tanay wind project site
February 2019
Dupinga Mini Hydro Project secured Amended ECC from DENR
February 2019
Kiangan Mini Hydro Project obtained ECC from DENR
November 2018
Rizal Provincial Government Resolution gave permission for Tanay Wind Resource Assessment
October 2018
Lamut-Asipulo Mini Hydro Project obtained DOE Amended Hydro Service Contracts and Certificate of Confirmation of Commerciality
August 2018
Alternergy celebrates 10 years of pioneering clean power for the next generation
March 2018
Over 130,000 local tourists visit Pililla wind farm on Easter weekend
June 2018
Partnership with Vena Energy for Sembrano wind project
July 2018
Phase I of CitySun, first multi-rooftop solar portfolio in the Philippines, comes into commercial operation
December 2017
Solar Pacific receives first non-recourse local bank financing for CitySun solar rooftop portfolio
November 2016
Green Energy Supply Solutions (GESSI) created to give large power customers access to clean energy
April 2016
Singapore-based InfraCo Asia commits to co-developing Ifugao run-of-river hydro portfolio
April 2016
Partnership with Markham Resources for Dupinga hydro project
October 2015
12.5MWp Kirahon solar farm comes into commercial operation on schedule and within budget
June 2015
54MW Pililla wind farm comes into commercial operation on schedule and within budget
May 2015
ERC approves the country’s first-ever bilateral solar PPA for Kirahon
February 2015
12.5MWp Kirahon solar farm receives first non-recourse local bank project financing for solar
January 2015
AES founder Roger Sant’s family foundation partners with Solar Pacific
December 2014
Solar Pacific forms joint venture with Mindanao Energy Systems
July 2014
Pililla wind project receives first non-recourse local bank project financing for wind
May 2014
Partnership with Equis Funds for Pililla wind project to replace Korea East West Power
November 2013
Solar Pacific signs first bilateral solar contract with CEPALCO
September 2013
Alternergy Mini Hydro acquires development rights for 7 mini hydro projects from Enerhighlands
February 2013
Alternergy Mini Hydro signs joint development agreement for Dupinga mini hydro project
January 2013
Alternergy expands into mini hydro development
January 2013
Solar Pacific set up to bring solar power to off-grid islands
December 2011
Alternergy received its first bank loan
October 2011
After Fukushima earthquake, Eurus Energy bought out by Alternergy
March 2011
Alternergy partners divest their 50% stake in Bangui Bay wind farm
October 2010
Asian Development Bank and the Government of Japan fund feasibility grants for Alternergy wind projects
December 2010
1.8MW SBMHC mini hydro plant starts commercial operation
October 2009
Alternergy awarded three additional Wind Energy Service Contracts, making Alternergy the most active wind developer in the Philippines
August 2009
Partnership with Eurus Energy of Japan and Korea East West Power to co-develop wind portfolio
December 2008
Renewable Energy Act comes into law, aimed at accelerating the development of renewable energy by increasing renewable energy-based installed capacity from 5,438MW in 2010 to about 15,304MW by 2030
December 2008
Alternergy awarded three wind Pre-Commercial Contracts by the Department of Energy to explore wind resources in Rizal, Laguna and Mindoro
August 2008
Alternergy established
June 2008
8MW Phase II of Bangui Bay comes into commercial operation
April 2007
Former Energy Minister Vince Pérez invests in Bangui Bay wind farm
June 2005
The 25MW Bangui Bay wind farm—the first wind farm in Southeast Asia—starts commercial operation. Four of Bangui Bay’s project partners will later come together to form Alternergy
The Story of Alternergy
From boardrooms to classrooms, from windswept ridges to raging upland rivers, and from sun-soaked idle lands to scenic islands in the Pacific Ocean, the stories in this book will take readers to the highs and lows of Alternergy in its first 15 years. It is a valuable resource for renewable energy entrepreneurs and climate activists, containing many essential lessons. The success of Alternergy is a narrative on how companies can work smart and have fun at the same time.