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Alternergy acquires two Quezon wind projects from CleanTech

Alternergy strengthens its portfolio by acquiring two wind projects from CleanTech in Quezon Province, expanding its growth strategy beyond the 500MW mark.

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Alternergy Holdings Corporation has formalised the acquisition of two wind projects in Quezon Province, Philippines, from CleanTech Global Renewables Inc. The assets involved, Tayabas North and Tayabas South, are now transferred to Calavite Passage Wind Power Corporation, a dedicated project company controlled by Alternergy, under a Deed of Assignment.

The projects include all assets, permits and related contracts for both sites, each governed by a Wind Energy Service Contract (WESC). Tayabas North is covered by WESC No. 2022-06-208, while Tayabas South falls under WESC No. 2021-10-186.

A project selected in the latest green energy auction

The Tayabas North project, with an estimated capacity of 96MW, was among the qualified bids during the fourth Green Energy Auction conducted by the Philippine Department of Energy on September 2. The preliminary list of accepted bids, released on September 5, confirms its eligibility.

The acquisition comes as Alternergy plans to commission its 64MW Alabat wind project in 2026, also located in Quezon Province. Alternergy President Gerry P. Magbanua stated that this transaction marks the company’s second wind development in the region.

CleanTech retains minority stake

CleanTech will retain a minority equity stake in each of the two wind projects and holds an option to increase its investment. Chief Executive Officer Salvador Antonio Castro Jr stated that both companies will continue to co-develop the projects.

Alternergy indicated that the acquisition is part of its upcoming project pipeline beyond its initial 500MW target. The transaction, advised by Mabuhay Capital as financial advisor, remains subject to regulatory approval by the Department of Energy.

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