Alternergy puts up first wind farm in Cebu

MANILA, Philippines — Alternergy Holdings Corp. is fueling its clean energy target with the acquisition of a large wind farm in Cebu, marking its first wind investment in the Visayas.

Through subsidiary Alternergy Wind Holdings Corp., the company is set to acquire a 95-percent stake in MC Project Solutions Inc. (MCPSI), the developer of the 80-megawatt (MW) Alegria Cebu Wind Project.

With an estimated capital investment of P7.93 billion, the wind facility is now in the pre-development stage, with commercial operation targeted for 2028. It is also a winner in the government’s fourth green energy auction round.

“We are excited to develop our first wind project in Cebu, which marks a significant step in expanding our renewable energy portfolio into the Visayas grid,” Alternergy president Gerry Magbanua said.

The latest wind investment propels Alternergy closer to its goal of reaching one gigawatt of clean energy capacity within the next five years.

“Given the track record of Alternergy in wind project development, we are pleased to collaborate with Alternergy in developing the first wind energy undertaking on the island of Cebu,” MCPSI CEO Pedro Pascual said.

Alternergy, chaired by former energy secretary Vince Perez, currently has four projects in advanced stages of construction, with completion expected later this year or in early 2026.

These projects include the 4.6-MW Dupinga run-of-river in Nueva Ecija, the 28-MW Solana Solar in Bataan, the 128-MW Tanay Wind in Rizal and the 64-MW Alabat Wind in Quezon.

With robust expansion plans, Alternergy expects to achieve at least 500 MW of renewable electricity capacity by next year.

Recently, Alternergy became the first listed company on the Philippine Stock Exchange to secure a Green Equity Label from the Securities and Exchange Commission.

The designation is given to publicly listed companies that derive over 50 percent of their revenues from green activities and allocate more than half of their investments to such initiatives.