$400 Million into wind energy that is. Alternergy Philippine Holdings Corp. announced that they are looking to invest $400 million midterm into wind based renewable energy projects in the Philippines. The $400 million will equate to about 200 MW worth of Wind Energy Projects.
Last year Alternergy has a formed venture with Eurus Energy Japan Corp. and Korea East West Power Co. (EWP). The ventures aim is to invest into renewable energy projects in the country.
EWP is a subsidiary of Korea Electric Power Corp. (Kepco) while Eurus Energy Japan is a subsidiary of Eurus Energy Holdings Corp. of Japan which is then owned by Tokyo Electric Power Company, Inc. and Toyota Tsusho Corp. Alternergy Philippine Holdings Corp. was founded by former Energy secretary Vincent Pérez
Alternergy currently has a stake in the 40-MW Aparri wind project being developed by NorthWind Power Development Corp. in Cagayan. And the Department of Energy had awarded six service contracts on wind projects to Alternergy. These are located in Sta. Ana and Ballesteros (Cagayan), Pagudpud (Ilocos Norte), Pililla (Rizal), Kalayaan (Laguna) and Abra de Ilog (Mindoro).
[source]
Category: Wind, Clean Energy, Investing
