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Home›Business & Finance›Philippine Company Acquires Shell’s Stake in 3 Offshore Wind Projects, Becomes Sole Owner
Business & Finance

November 12, 2024 · about 1 year ago

Philippine Company Acquires Shell’s Stake in 3 Offshore Wind Projects, Becomes Sole Owner

Philippine renewable energy holding company Alternergy Holdings Corporation (ALTER) has acquired full ownership of three offshore wind projects in the Philippines which the company owned together with Shell. Through its subsidiary Alternergy Wind Holdings Corporation, Alternergy bought Shell’s 40 pe

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According to Alternergy, an interconnection project currently under development in the country, called the Batangas-Mindoro Interconnection Project (BMIP), will transport power from the Mindoro Province, where the Tablas offshore wind projects are planned to be built, to the main load centre. The National Grid Corporation of the Philippines (NGCP) is expected to complete the BMIP interconnection by 2027.

Alternergy secured the rights to investigate the site offshore Mindoro, located between northwest Mindoro and Lubang Island, in 2022 and teamed up with Shell that same year.

According to information about the Tablas project shared earlier, the total capacity of the three offshore wind farms could be at least 1 GW.

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