Alternergy Holdings Corp
announced it has secured three service contracts for its offshore wind
projects over Tablas Strait which is separating Mindoro and Antique, Philippines.
According to Alternergy, the Philippines Department of Energy (DOE) awarded
the wind energy service contracts to its wind unit Pililla AVPC Corp. (PACO)
for the Tablas strait offshore wind power project which covers around 120,000
hectares. They provide exclusive rights to explore, develop and utilise
wind resource in the wind-swept Tablas Strait separating Oriental Mindoro
and Antique.
“Our Tablas strait offshore wind power projects are located in one of
the zones identified by a World Bank study that is most suited to offshore
wind development. We look forward to proceeding with the pre-development
activities, particularly technical studies and resource assessment,” PACO
chief executive officer Knud Hedeager said.
Hedeager also revealed that the the projects have been subjected to technical,
legal and financial review by the DOE since July 2022.
PACO currently has four offshore wind energy service contracts. Last year,
DOE awarded the service contract for Calavite Passage. These offshore wind
projects will be developed through Alternergy’s partnership with Shell
Overseas Investments B.V.
Alternergy is set to list at the Philippine Stock Exchange (PSE) on March
24, 2023 as proceeds from its initial public offering (IPO) will be used
for pipeline projects, including offshore wind projects. It is aiming to
develop 1,370 MW of renewable energy projects including wind, offshore
wind, solar and run-of-river hydro projects.