ALTERNERGY Holdings Corp. is set to begin constructing its 28 megawatt-peak Solana Solar Power Project in Hermosa, Bataan, it said on Wednesday.
Alternergy and its sub-holding company Solar Pacific Energy Corp., which wholly owns Solana Solar Alpha, Inc., has broken ground on the project, which has an estimated cost of P1.5 billion.
“The ALTER Group is full steam ahead as we break ground for the Solana Solar Power Project, our third project to be completed this year,” Alternergy Chairman Vicente S. Pérez, Jr. said in a statement.
Mr. Pérez said that they will contribute a total of 204 megawatts (MW) of renewable energy capacity to the grid by the end of 2025 with their latest project, along with the expected completion of Alabat and Tanay Wind Power Projects, which have also started construction.
These projects will accelerate its move toward its target to reach 500 MW of total generating capacity by 2026, Alternergy said.
Mr. Pérez said the Solar Power Project is expected to issue the notice to proceed for the construction immediately as it is slated for completion by the first quarter of 2025.
“The host communities of our projects are our immediate stakeholder and support. We look forward to continuing working with the Bataan Province and Hermosa Municipality as we move forward with the construction,” Alternergy President Gerry P. Magbanua said.
Solar Pacific President Michael Lichtenfeld said they are “on the active lookout” for new projects and will be ready to file for new service contracts with the Department of Energy once the moratorium is lifted.
Alternergy aims to develop up to 474 MW of additional wind, solar, and run-of-river hydro projects.
Shares in the company fell by two centavos or 2.82% to close at 69 centavos apiece on Wednesday. — Sheldeen Joy Talavera
