ALTERNERGY Holdings Corp. announced on Thursday the start of the construction of its 64-megawatt (MW) Alabat Wind Power Project in Quezon province.
The wind project has an estimated cost of P7 billion and is scheduled for completion by November 2025, Alternergy said in a statement on Thursday.
Alternergy awarded the construction contract for the project, along with the Tanay Wind Power Project in Rizal, to China Energy Engineering Group Guangdong Electric Power Design Institute Co. Ltd.
“We are grateful for the support of the local government of Quezon and our host municipalities Alabat and Quezon,” said Alternergy Chairman Vicente S. Perez in a Viber message.
“This wind farm is unique because it is the first to be installed facing the Pacific. It also has the largest rated capacity at 8 MW and is the first in the Province of Quezon,” he added.
Alabat Wind Power Corp. President Gerry P. Magbanua said the company is building up to 204 MW capacity this year.
“Alternergy is marching onwards to our growth path and, more importantly, we will contribute new and renewable capacity to help boost supply reliability of the country,” he said.
Alternergy aims to develop 1,370 MW of renewable sources such as onshore and offshore wind, solar, and run-of-river hydropower projects.
At the local bourse on Thursday, shares in the company rose by P0.02 or 3.03% to close at P0.68 each. — Sheldeen Joy Talavera
