Vince Perez’s Alternergy reorganizes renewable energy assets to boost efficiency

Alternergy Holdings Corp. (ALTER) has announced the reorganization of its renewable energy assets into three distinct divisions, aiming to streamline operations and unlock new opportunities.

The move was disclosed to the Philippine Stock Exchange (PSE) following its recent acquisition of Alternergy Solar Holdings Corporation (ASHC).

The restructuring aligns with the strategy of Alternergy — the listed firm founded by former Energy Secretary Vince Perez — to separate its renewable energy assets into intermediate holding companies, each focused on a specific technology.

ASHC will now manage the company’s solar assets, joining Alternergy Wind Holdings Corp. (AWHC) and Alternergy Mini Hydro Holdings Corp. (AMHHC), which oversee wind and hydro projects, respectively.

According to ALTER president Gerry Magbanua, the new structure is expected to enhance operational efficiency and attract more significant investment.

Gerry Magbanua
Alternergy president and co-founder

“With the creation of ASHC and ALTER’s 100-percent ownership, we expect a more vitalized solar energy portfolio for ALTER,” he said. “Consolidating our assets will result to operational efficiency and more importantly it will open new markets and access to larger capital resources.”

ASHC will oversee several key solar projects, including Liberty Solar Energy Corp., Olympia Solar Power Corp., and Kirahon Solar Energy Corp. The transfer of ownership for certain assets will depend on third-party consents, including from project lenders.

Alternergy’s restructuring aligns with its broader expansion plans, which target the development of 500 megawatts of renewable energy projects across various technologies in the next two years.

ALTER, which went public in March 2023, continues to position itself as a leader in the Philippines’ renewable energy sector. The company’s shares were recently added to the PSE Industrial Index, further solidifying its market presence.

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Wednesday, 19 February 2025
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