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Business

Alternergy’s wind projects gets DOE certification

Richmond Mercurio - The Philippine Star
Alternergy�s wind projects gets DOE certification
Alternergy said the DOE has confirmed compliance by subsidiary Alternergy Tanay Wind Corp. (ATWC) of the post-auction requirements under GEA-2, which includes posting of the performance bond.
STAR / File

MANILA, Philippines — Renewable energy company Alternergy Holdings Corp. has been issued certificates of award (COA) by the Department of Energy for its two wind power projects as winning bids under the Green Energy Auction 2 (GEA-2) program conducted by the government in July.

Alternergy said the DOE has confirmed compliance by subsidiary Alternergy Tanay Wind Corp. (ATWC) of the post-auction requirements under GEA-2, which includes posting of the performance bond.

The Tanay and Alabat wind power projects, which have a capacity of up to 164 megawatts (MW), are located in Rizal and Quezon, respectively.

“The confirmation by the DOE and subsequently the issuance of the COA is a critical milestone as it formally awards our two wind projects with 20-year off-take agreements with the National Transmission Corp. with a specific tariff,” Alternergy president Gerry Magbanua said.

“The certificates of award from the DOE is critical to our project lenders who are close to completing their due diligence with target financial closure by the first quarter of next year,” he said.

Magbanua said ATWC has been conducting competitive bidding for the equipment supply and construction contracts with a target start of construction by the second quarter of 2024.

Last week, ATWC announced the award of the owner’s engineer (OE) contract to K2 Management, a leading energy transition project management and engineering consultancy, to support the development and construction of its two onshore wind power projects following a competitive selection process.

As owner’s engineer contractor, K2M will support Alternergy in the procurement processes within a muti-contracting framework, followed by construction management, design reviews, site management, and quality control measures.

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