Alternergy secures wind service contracts for 120,000 ha offshore wind developments in the Philippines

Alternergy Holdings Corporation has been granted three additional offshore wind service contracts from the Philippines' Department of Energy (DOE) for the development of offshore wind farms. 

Through its wind arm Pililla AVPC Corp. (PACO), Alternergy is granted exclusive rights to explore, develop, and utilize wind resources in the wind-swept Tablas Strait separating Oriental Mindoro and Antique. These projects can cover up to 120,000 hectares of area. The potential projects are to be located in one of the zones that are identified by the World Bank that is suitable for offshore wind developments. 

Alternergy is partnering with Shell Overseas Investment B.V. as its strategic partner for the development of these offshore projects. The company is planning to conduct an initial public offering (IPO) to support the development of its projects that are currently in the pipeline.