ALTERNERGY Holdings Corp. on Monday said that ABC Energy Inc., a unit of listed A Brown Company Inc., had completed a P2.3-billion investment in Alternergy Tanay Wind Corp. and Alabat Wind Power Corp.
“The final closing, completed today, July 20, 2026, concludes the two-phase transaction announced earlier this year,” Alternergy told the stock exchange.
ABC Energy now has a 40-percent equity stake in both wind projects, Alternergy said.
Alternergy retains 60-percent majority ownership and management control of both projects.
“We are delighted to complete this landmark transaction and welcome A Brown as a strategic partner,” Alternergy President Gerry Magbanua said.
“Their decision to complete the investment ahead of commercial operations of both projects underscores their confidence in Alternergy’s renewable energy platform and long-term growth strategy,” he added.
Walter Brown, A Brown chairman emeritus, said: “We are honored to partner with Alternergy in advancing projects that will help build an energy future that is cleaner, more secure and more sustainable for every Filipino.”
Magbanua said the partnership also strengthened Alternergy’s capital base as it pursues its target of building up to 500 megawatts (MW) of additional renewable energy capacity by year-end.
The company said the 128-MW Tanay wind project in Rizal was now 89-percent complete and in the final stages of commissioning, with commercial operations expected to begin in October.
The 64-MW Alabat wind project in Quezon, meanwhile, is 83-percent complete and moving toward commercial operations.
Alternergy shares on Monday closed unchanged at P0.78 apiece.
