Alternergy seals P2.4-B co-investment with A Brown for Tanay, Alabat wind farms

Renewable power pioneer Alternergy Holdings Corp. has sealed a P2.4 billion co-investment deal with ABC Energy Inc., the energy arm of A Brown Co. Inc., for a 40 percent stake in its Tanay and Alabat wind projects.

Alternergy will retain a 60 percent majority in the 128 MW Tanay and 64 MW Alabat projects, both now in advanced construction and set for completion by early 2026. 

The deal, first reported by the Philippine Daily Inquirer, marks the first wind projects awarded under the Marcos Jr. administration’s second Green Energy Auction to reach completion.

“We are pleased to welcome ABC Energy as our minority partner in our Tanay and Alabat projects,” said Gerry P. Magbanua, president of Alternergy. 

“A Brown has a proven investment history in energy and resources development. We also acknowledge the Brown family’s longstanding presence of over 90 years with the progressive municipality of Tanay,” he added.

 The transaction, advised by AlphaPrimus Advisors, Astris Finance, and Mabuhay Capital, is subject to regulatory review and approval by the Philippine Competition Commission.

—Edited by Miguel R. Camus