A Brown Company, Inc. has finalized a P2.3-billion investment in two wind farm projects of Alternergy Holdings Corp. located in Rizal and Quezon, securing a 40% equity stake in each venture.
The two-phase transaction was completed ahead of schedule after A Brown opted to close its investment before the commercial operations of both facilities.
Funding was routed through share subscriptions and share purchases in the project companies Alternergy Tanay Wind Corp. and Alabat Wind Power Corp.
The deal closed more than four months after securing clearance from the Philippine Competition Commission.
Alternergy will retain a 60% majority stake and management control of both project companies to maintain leadership in development and operations.
Alternergy’s president stated that the early completion reflects strong confidence in the company’s renewable energy platform and long-term growth strategy.
The partnership is expected to reinforce Alternergy’s capital position as it targets up to 500 megawatts of additional renewable capacity by year-end.
A Brown’s chairman emeritus said the investment supports a cleaner, more secure, and sustainable energy future for the country.
The 128-MW Tanay Wind Power Project in Rizal is 89% complete and in final commissioning, with commercial operations set for October.
The 64-MW Alabat Wind Power Project in Quezon is 83% complete and remains on track for startup.
Company officials credited the progress on both projects to strong partnerships and a shared commitment to expanding renewable energy in the Philippines.
