RENEWABLE ENERGY. Alternergy Holdings Corporation and several partners will invest some PHP20 billion for several renewable energy (RE) projects lined up in the next five years. Alternergy president Gerry Magbanua said they will fund the projects, targeted to produce about 300-350 megawatts, through a combination of loans and equities. (Photo grabbed from Alternergy website)
MANILA – Alternergy Holdings Corporation and several partners are planning to invest some PHP20 billion in the next three to five years to put-up various renewable energy (RE) projects that can produce around 300 to 350 megawatts capacity.
In a briefing on Tuesday, Alternergy president Gerry Magbanua said they have lined-up triple-play projects that use run-of-river hydro power, wind and solar.
“In the next three to five years, we have representative projects for each of these technologies and that’s part of the PHP20 billion,” he said.
Among the current sources of Alternergy’s supplies come from the Bangui Bay and Pillilia wind farms and the solar energy farms in Kirahon in Misamis Oriental and rooftop projects in various malls by Double Dragon Properties and SM Investment Corporation.
The company is also developing a battery energy storage in western Pacific, particularly in the Republic of Palau, and this is considered to be the largest solar hybrid project in the area to date.
Magbanua said they are still considering another project in western Pacific but declined to elaborate.
He said that for each of the projects that are in the line-up, 70 percent will be financed by loans and 30 percent by equity –a system they have implemented since their previous projects.
“For Alternergy, our mantra is not to own 100 percent of these projects. We will be inviting partners in the equity structure,” he added.
Of about PHP6 billion equity, he said around PHP3.5 billion will come from Alternergy itself while the balance will be provided by its partners. (PNA)
