15 0 0 3 weeks ago 4 min to read

Alternate Energy secures new offshore wind service agreements

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Three service contracts have been won for Alternergy Holdings Corp.’s offshore wind projects over the Tablas Strait, which separates Mindoro and Antique. Alternergy Holdings Corp. is a pioneer in the country’s use of renewable energy.

The Department of Energy (DOE) awarded the wind energy service contracts for the Tablas Strait Offshore Wind Power Project to Pililla AVPC Corp. (PACO), according to a statement distributed to reporters over the weekend by Alternergy.

The projects in the Tablas Strait span over 120,000 hectares.

Our offshore wind generating projects in the Tablas Strait is situated in one of the areas that a World Bank study determined to be best suited for offshore wind development. Knud Hedeager, chief executive officer of PACO, said, “We look forward to moving forward with the pre-development work, including technical research and resource assessment.

Hedeager noted that the DOE had been rigorously reviewing the projects’ technical, legal, and financial aspects since July 2022.

Four offshore wind energy service agreements are now with PACO. The DOE granted the Calavite Passage servicing contract last year.

With their collaboration with Shell Overseas Investments B.V., Alternergy, and these offshore wind projects will be built.

On March 24, 2023, Alternergy is scheduled to list on the Philippine Stock Exchange (PSE), with the funds from its IPO going toward pipeline initiatives including offshore wind projects.

It aims to create 1,370 megawatts of renewable energy projects, including run-of-river hydro, offshore wind, solar, and wind.

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