PCC Approves A Brown's 40% Investment in Alternergy's Tanay and Alabat Wind Projects
Alternergy Holdings Corp. and ABC Energy Inc. received clearance from the Philippine Competition Commission to jointly develop the Tanay Wind Power Project (128 MW) and Alabat Wind Power Project (64 MW). ABC Energy will acquire a 40% equity stake for P2.4 billion, while Alternergy retains 60%. The projects are nearing completion this year and part of Alternergy's goal to reach 1,000 MW of renewable energy capacity by 2030.
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The Philippine Competition Commission (PCC) approved ABC Energy Inc.'s 40% investment in Alternergy Holdings Corp.'s Tanay (128 MW) and Alabat (64 MW) wind power projects for P2.4 billion. Alternergy will hold a 60% majority stake in both subsidiaries.
The wind projects, currently in advanced construction, are expected to be completed this year. This investment supports Alternergy's expansion of its renewable energy portfolio to 1,000 MW by 2030. ABC Energy's move follows its exit from coal power investments.
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