Alternergy unit to take over 80-MW Cebu wind project

Title Altenergy Unit to Take Over 80-MW Cebu Wind Project A Strategic Move into Visayas Renewable Energy Market

The recent announcement by ALTERNERGY Holdings Corp. that it will be acquiring a majority stake in the developer of the 80-megawatt (MW) Alegria Cebu Wind Project marks a significant milestone for the company as it expands its presence beyond the Luzon region, where it has been operating for years.

This strategic move is expected to have far-reaching implications for the renewable energy landscape in the Visayas region. As Alternergy's wind subsidiary, Alternergy Wind Holdings Corp. (AWHC), takes over the project, it will be one of the largest wind farms in the country, providing a significant boost to the regional grid.

The Importance of Renewable Energy in the Visayas Region

The Visayas region is a significant contributor to the Philippine economy, with major industries such as agriculture, manufacturing, and tourism requiring reliable and sustainable sources of energy. The government has set ambitious targets for renewable energy development, with a goal of increasing the share of renewables in the energy mix from 23% in 2019 to 30% by 2025. The Visayas region is well-positioned to play a key role in achieving this target, given its abundant wind and solar resources.

Why Wind Energy is Critical

Wind energy is a critical component of the renewable energy mix, particularly in the Visayas region where the winds are strong and consistent. Alegria Cebu Wind Project's 80-MW capacity will provide a significant boost to the regional grid, creating jobs, stimulating local economies, and reducing reliance on fossil fuels.

The project's development is also expected to help the region transition towards a low-carbon future, which is critical for mitigating the impacts of climate change. As the world continues to grapple with the challenges posed by climate change, renewable energy sources such as wind power will play an increasingly important role in reducing our reliance on fossil fuels.

The Role of Altenergy in the Acquisition

Altenergy's acquisition of a majority stake in the Alegria Cebu Wind Project demonstrates its commitment to renewable energy development and its ability to develop and finance large-scale projects. This move is strategic, allowing the company to expand its presence in the Visayas region and tap into the region's abundant wind resources.

Conclusion

In conclusion, Alternergy's acquisition of a majority stake in the Alegria Cebu Wind Project marks a significant development that will have far-reaching implications for the Visayas renewable energy market. The project's completion will provide a major boost to the regional grid, creating jobs, stimulating local economies, and reducing reliance on fossil fuels.

This strategic move also highlights the importance of renewable energy development in addressing climate change and achieving sustainable development goals.

Edward Lance Arellano Lorilla

CEO / Co-Founder

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