Clime Capital to invest up to USD 10m in Philippine solar firm UGEP
Sep 11, 2024 14:25 CESTChina’s Envision Energy on Monday said it will equip 162 MW of wind parks in the Philippines under its first turbine supply deal in the Pacific Ocean archipelago.
The order was placed by Philippine renewable energy developer Alternergy Holdings Corp (NASDAQ:AEAE) and covers the design, engineering, manufacturing and delivery of 6.5 MW and 8 MW machines. According to the Chinese manufacturer, those turbines will be the largest ones installed so far in the Philippines.
The hardware will be powering the Alabat and Tanay wind farms in the provinces of Rizal and Quezon, respectively. Both sites are planned to become operational by the end of next year. Once up and running, the two plants’ operations will be overseen by Envision Energy under a 10-year service and maintenance contract.
"Envision Energy was selected after a very thorough and rigorous tender process and due diligence,” said Knud Hedeager, president of Alternergy Wind Holdings Corporation.
The Tanay and Alabat wind projects were both awarded in green energy tenders held by the government of the Philippines. Their construction is slated to begin by the second quarter of this year.
Clime Capital to invest up to USD 10m in Philippine solar firm UGEP
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