Alternergy Holdings Corporation (ALTER), a renewable energy pioneer, has initiated wind resource assessment for a potential wind power project in Albay Province, Bicol region. The project began with the deployment of a Light Detection and Ranging (LiDAR) system to collect wind measurements critical for determining the feasibility of the site.
Knud Hedeager, President of Alternergy Wind Holdings Corporation, expressed enthusiasm for the project, stating, “Our LiDAR system has started collecting wind measurements that will be instrumental in determining the feasibility of the project. We are excited to explore the wind power potential of Albay Province and support the province’s sustainability goals.”
The wind resource assessment is part of activities approved by the Department of Energy under the Certificate of Authority (COA) issued earlier this year for Alternergy’s Albay Wind Power Projects. The COA grants Alternergy three years to complete pre-feasibility studies and permitting activities. If the site proves commercially viable, the COA will be converted into a 25-year Wind Energy Service Contract.
In line with Alternergy’s commitment to sustainability, the LiDAR system is powered by a solar installation. Mr. Hedeager emphasized the company’s dedication to environmental care and community engagement, saying, “Our team is committed to ensuring that the Albay Wind Power Projects are executed with the utmost care for the environment and the local community.”
The Albay Wind Power Projects 1 and 3 are part of Alternergy’s ambitious portfolio aimed at achieving its “Road to 1 GW by 2030” goal.
Alternergy is a renewable energy pioneer with a diverse portfolio of projects, including wind, run-of-river hydro, solar farms, commercial rooftop installations, battery storage, and offshore wind projects. The company aims to develop up to 500 MW of additional renewable energy projects in the next two years.
Alternergy debuted on the Philippine Stock Exchange in March 2023 and has since achieved significant milestones, including inclusion in the PSE Industrial Index in August 2024 and issuing its first dividend payments in December 2024.
