Alternergy sees completion of 2 mini hydro projects in 2024, 2025
ALTERNERGY Holdings Corp. said it expects two run-of-river hydropower projects to be completed this year and in 2025.
The company is preparing to build the 4.6-megawatt (MW) Dupinga Mini Hydro Project in Nueva Ecija and the 17.4-MW Kiangan Mini Hydro Project in Ifugao province, which are slated for completion in 2024 and 2025, respectively.
“While we are in the driver’s seat in terms of completing those projects, we are minority shareholders in those,” Alternergy President Gerry P. Magbanua told reporters last week.
Alternergy has a partnership with hydro and wind developer Markham Resources Corp. for the Dupinga Hydro Project.
Dupinga Mini Hydro Corp., the corporate vehicle of Alternergy and Markham for the hydropower project, was awarded a service contract by the Department of Energy in 2017 to develop renewable energy resources of Dupinga River.
In 2022, the company secured a P660 million in funding support from state-owned Development Bank of the Philippines for the development of the hydro power project.
Meanwhile, the company has collaborated with Japanese renewable energy company Renova, Inc. and construction engineering firm Sta. Clara International Corp. for the Kiangan Hydro Power Project.
The DBP granted a P2.65-billion loan in 2022 for the completion of the hydropower project, which will consolidate the hydropower output along the rivers of Ibulao, Asin, and Hungduan.
Alternergy aims to develop up to 474 MW of additional wind, solar, and run-of-river hydropower projects in the next three years. — Sheldeen Joy Talavera