July 18, 2023 | Daily Tribune
Renewable power pioneer and publicly listed Alternergy Holdings Corporation of former Energy Secretary Vince Perez won all of the projects it bid for in the recent Green Energy Auction 2 or GEA 2 of the Department of Energy.
“This is extremely positive news. Winning all the projects we bid for is a game changer for Alternergy. For the next three years, we will be building three projects with 200 megawatts or MW of contracted capacity, a jump from 80 MW to 384 MW in gross installed capacity in three years,” Alternergy chairperson Perez said.
“Having built the country’s earliest wind and solar farms, our management team has strong experience in constructing wind and solar projects,” he added.
Alternergy anticipates challenges but Perez said his company is ready to proceed with the projects won under GEA 2.
Packing wind power
Two of Alternergy’s projects that won the GEA 2 are wind farms with a combined capacity of 140 MW under the project company Alternergy Tanay Wind Corporation.
These are the 86 MW Tanay Rizal Wind Power Project located adjacent to its existing Pililla Rizal wind farm, and the 55 MW Alabat Island Wind Power Project located in the province of Quezon.
Alternergy, through its recently acquired Liberty Solar Energy Corporation, also won the bid for its 67 MWdc solar ground-mounted power project located in Tarlac province.
“The Alternergy dedicated bid teams prepared extensively for this year’s auction, from bid documentation to technical analysis to financial modelling. The team exerted significant efforts on competition landscape analysis in preparing the bid offers, giving us sufficient comfort and confidence that our projects are feasible and viable,” Gerry Magbanua, president of Alternergy, said.
“Once operational, these projects will contribute significant steady flow of revenues for Alternergy and accelerate achieving our goal of 1,096 GWh of annual generation from renewable power,” he added.
Under the GEAP, winning bidders will sign a 20-year Renewable Energy Payment Agreement with the National Transmission Company.
“Aside from the anticipated positive impact of the projects to Alternergy, new investments under the green energy auction will boost economic activities of our host communities and create hundreds of renewable energy jobs,” Magbanua added.