3 firms keen on investing in Tanay wind project

By Alena Mae S. Flores

ALTERNERGY Holdings Corp. said Thursday wholly-owned subsidiary Alternergy Tanay Wind Corp. received proposals from major international and local energy companies to co-develop the proposed 100-megawatt Tanay wind power project in Tanay, Rizal. Alternergy president Gerry Magbanua said one of the three interested companies is part of one of the world’s largest energy companies based in Europe.

He said the other is a regional renewable energy company with a portfolio of wind and solar projects across the Asia Pacific region. Another interested investor is a major domestic energy player which is a part of a conglomerate.

“We have received strong interest from three major energy companies following the request for proposals due in March 2023. The official letters of intent have been received and we will proceed next to review their respective proposals to finalize the selection of our preferred equity partner,” Magbanua said. The Tanay wind power project is a shovelready project with major permits obtained, with available four-year wind data. The project completed several technical studies including the logistics, environmental and energy assessment. It also received height clearance approval from the Civil Aviation Authority of the Philippines.