NEWS

By Kris Crismundo | Philippine News Agency | June 5, 2024 5:20PM

WIND POWER. The largest wind power project in Rizal breaks ground in Tanay on June 4, 2024. The Tanay Wind Power Project of Alternergy Holdings Corp. will add up to 112 megawatts of clean energy to the Luzon grid by the latter part of 2025. (Courtesy of Alternergy)

MANILA – Ramping up the country’s renewable energy (RE) capacity, listed firm Alternergy Holdings Corp. said Wednesday it has begun the construction of its largest wind energy project in Tanay, Rizal.

Alternergy executives led by its chairman Vicente Pérez and president Gerry Magbanua, and Alternergy Tanay Wind Corp (ATWC) president Knud Hedeager, together with national and local government officials, broke ground on June 4 for the 112 megawatt (MW) Tanay Wind Power Project.

The RE company targets to complete the project by the fourth quarter of next year to contribute additional clean energy to the Luzon grid.

“We are grateful for the huge support given to the Tanay Wind Power Project which has finally led us to this groundbreaking. We are hoping that the same support will be extended to us as we move ahead with the construction phase,” Pérez said.

Aside from providing additional RE capacity in the grid, ATWC’s Hedeager said the wind power project is also expected to drive the growth of the tourism industry in Tanay.

“There will be a lot of growth that is going to happen in the next 18 months. But please bear with us for this construction phase. We assure you that we will take care of you (local community). The tourism industry in Tanay is going to sparkle like never before and will be busier come 2026,” Hedeager said.

The Tanay Wind Power Project has won the Green Energy Auction 2 Program of the Department of Energy, securing an off-taker for the facility’s clean energy output.

It also secured project financing of PHP8 billion last month from the Bank of the Philippine Islands and Security Bank.

The project contributes to the goal of the government to reach the target of 35 percent share of RE in the country’s energy mix by 2030.

Source: Philippine News Agency

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