Alternergy Advances Tanay Wind Project with Energized Transmission Facilities

Alternergy Holdings Corp. has successfully energized the transmission infrastructure of its 128-megawatt (MW) Tanay Wind Project, a significant step towards commercial operations. This milestone includes the energization of a 500-kilovolt (kV) substation and associated transmission facilities, which will connect the wind farm to the national grid, enabling the delivery of renewable energy to the Luzon region.

According to Alternergy President Gerry P. Magbanua, this achievement is particularly noteworthy as it represents the first wind project energized under the Department of Energy's Green Energy Auction Program II (GEAP II), which aims to enhance the country's renewable energy capacity. Alternergy President Gerry P. Magbanua stated that the successful energization of the Tanay Wind Project brings them another step closer to delivering clean, reliable energy to Filipino consumers.

“The successful energization of the Tanay Wind Project brings us another step closer to delivering clean, reliable energy to Filipino consumers.”Gerry P. Magbanua, President, Alternergy

The project utilizes 8-MW wind turbines, claimed to be the largest installed in Southeast Asia outside of China. Once operational, the wind farm is projected to generate approximately 283.5 gigawatt-hours (GWh) of renewable electricity annually, sufficient to power around 118,000 households, while also avoiding about 197,780 metric tons of carbon emissions each year.

“This achievement reflects the dedication and expertise of our entire project team, as well as the strong collaboration among government agencies and our project partners.”Gerry P. Magbanua, President, Alternergy

Alternergy has outlined plans to develop an additional 500 MW of renewable energy capacity by 2026, with a long-term goal of expanding its renewable portfolio to 1,000 MW by 2030. This initiative aligns with the Philippine government's efforts to increase the share of renewable energy in the national power generation mix.

Despite the positive developments, Alternergy's shares experienced a decline, falling by two centavos, or 2.56%, to close at 76 centavos ($0.14) per share on the same day as the announcement.