ALTERNERGY Holdings Corp. on Monday said it had received certificates of award for all five projects won under the fourth round of the Green Energy Auction Program (GEA-4).
In a disclosure, the company said that it received the approvals through its solar and wind business units following full compliance with post-auction document requirements and the submission of system impact studies and performance bonds.
Awarded were the Liberty solar floating projects (Phases A and B) in Luzon, the Kalandagan solar power project with battery energy storage system in Mindanao, the Tayabas North wind energy project in Luzon and the Alegria wind power project in the Visayas.
"This development demonstrates the readiness of all our projects for full-scale development works and Alternergy’s commitment to bringing these projects to fruition,” Alternergy President Gerry Magbanua said.
Alternergy said the five GEA-4 projects would bring it nearer to reaching its goal of having one gigawatt of renewables capacity by 2030.
The company further said it was nearing completion of its Tanay and Alabat wind power projects and was also pressing ahead with two more.
“Overall, these are exciting times for Alternergy. We are expanding our green energy footprint and are committed to driving growth and delivering value to our shareholders,” Magbanua said.
Alternergy shares on Monday added six centavos to close at P0.88 apiece.
