Alternergy closes P2.3 billion wind investment by A Brown Company

• A Brown Company, Inc., through its energy subsidiary ABC Energy Inc. completed its P2.3 billion investment in Alternergy’s Tanay and Alabat wind projects, acquiring 40% equity stake in each project company. 

• Alternergy retains 60% majority ownership and management control of both wind project companies. 

• Represents a major milestone in Alternergy’s long-term growth strategy, demonstrating its ability to attract strategic partners and recycle capital efficiently to support its matured assets while continuing to lead its Triple Play strategy. 

• Tanay Wind Project 89% complete and nearing completion; Alabat Wind Project 83% complete and advancing toward commercial operations. 

Alternergy Holdings Corporation (“PSE: ALTER”), a Philippine pioneer in renewable power development, announced the successful completion of ABC Energy Inc.’s P2.3 billion investment in Alternergy Tanay Wind Corporation (ATWC) and Alabat Wind Power Corporation (AWPC). ABC Energy, the energy subsidiary of publicly listed A Brown Company Inc. (“PSE: BRN”) has acquired a 40% equity stake in both wind project companies. 

The final closing, completed on July 20, 2026, concludes the two-phase transaction announced earlier this year. The final transaction value reflects an early closing adjustment under the terms of the parties’ agreement following A Brown’s decision to complete the investment ahead of the commercial operations of both projects. The investment was executed through a combination of subscription and purchase of shares in ATWC and AWPC. 

The transaction received clearance from the Philippine Competition Commission (PCC) in March, affirming compliance with applicable competition laws and regulatory requirements. 

With this milestone, Alternergy retains a 60% majority ownership and management control of both project companies, ensuring continued leadership in their development and operations while delivering long-term value to shareholders, partners, and the communities they serve. 

The P2.3 billion investment demonstrates Alternergy’s ability to attract strategic partners and supports the company’s capital recycling strategy as it accelerates the expansion of its renewable energy portfolio across the Philippines, including wind, solar, run-of-river hydro, and battery energy storage systems.

“We are delighted to complete this landmark transaction and welcome A Brown as a strategic partner,” said Gerry Magbanua, president of Alternergy Holdings Corporation. 

“Their decision to complete the investment ahead of commercial operations of both projects underscores their confidence in Alternergy’s renewable energy platform and long-term growth strategy. We are particularly pleased to partner with A Brown, whose 

longstanding history and legacy in the province of Rizal make this investment especially meaningful. This partnership strengthens our capital base as we pursue our target of building up to 500 MW of additional renewable energy capacity by year-end.” 

A Brown Company, Inc. chairman emeritus Dr. Walter Brown said, “At A Brown we have always believed that businesses endure when they contribute meaningfully to society. Our investment in Alternergy’s wind projects is rooted in that philosophy. We are honored to partner with Alternergy, a pioneer in renewable energy development in the Philippines, in advancing projects that will help build an energy future that is cleaner, more secure and more sustainable for every Filipino.” 

Alternergy’s 128 MW Tanay Wind Power Project in Rizal is now 89% complete and is in the final stages of commissioning, with commercial operations expected to begin in October. Meanwhile the 64 MW Alabat Wind Power Project in Quezon has reached 83% completion and continues to progress toward commercial operations. 

“The successful development of the Tanay and Alabat wind projects is the result of strong partnerships and a shared commitment to advancing renewable energy in the Philippines. We are deeply grateful for the steadfast support of our partners—the provincial governments of Rizal and Quezon, as well as our financing partners—BPI and Security Bank for the Tanay project, and RCBC for the Alabat project. Together, we are helping bring renewable power projects to life representing a total investment of about P18 billion in support of the country’s transition to a more sustainable energy future,” Gerry Magbanua also said. 

The Tanay and Alabat projects are the first among those awarded under the Department of Energy’s Green Energy Auction Program II (GEAP II) to reach advanced stages of development. Once operational, both projects are expected to contribute significantly to the country’s renewable energy targets and energy security agenda. 

Advisers to the transaction included AlphaPrimus Advisers and Astris Finance as joint financial advisors to Alternergy, Mabuhay Capital as financial advisor to ABC Energy, Romulo Mabanta Buenaventura Sayoc & de los Angeles as legal counsel to Alternergy, and Picazo Buyco Tan Fider Santos & Dee as legal counsel to ABC Energy.