Alternergy Holdings Corp. is ramping up its renewable energy portfolio after acquiring majority stakes in two wind farm projects in Quezon province from CleanTech Global Renewables Inc. The deal covers the 96-megawatt Tayabas North and the 150-megawatt Tayabas South wind projects, including their assets, permits, and development contracts.
CleanTech will retain an equity stake in the ventures and may reinvest further as co-developer. According to Alternergy, the transaction marks a strategic expansion of its pipeline beyond its first 500 MW of projects already in the works. Mabuhay Capital served as financial advisor for the deal.
The transfer of ownership is still subject to approval by the Department of Energy (DOE). Tayabas North has already secured a slot under the government’s 4th Green Energy Auction, while the Tayabas South project’s progress will depend on landing an offtake agreement with buyers.
Industry watchers note that these projects could help the Philippines inch closer to its renewable energy targets, but challenges remain. Grid integration, financing risks, and timely regulatory approvals will determine whether Alternergy can deliver on its timetable.
Local stakeholders in Quezon are also watching closely. Large-scale wind projects promise jobs and investment in host communities, but they also bring questions on land use, environmental safeguards, and long-term social impact.
For Alternergy, the move highlights how acquisitions and partnerships are becoming essential tools for scaling up renewables in the Philippines. Whether these projects can translate into operational capacity within the decade will test not only the company’s strategy but also the country’s regulatory and infrastructure readiness.
Sources: Philstar, BusinessMirror
