Articles by Jed Macapagal

Business

Alternergy to acquire 95% stake in Cebu wind project, expanding Visayas portfolio

Alternergy Holdings Corp. said in a statement on Monday its subsidiary, Alternergy Wind Holdings Corp., will acquire a 95 percent equity stake in MC Project Solutions Inc. (MCPSI), which has been developing the Alegria wind project in Cebu with a capacity of 56 to 80 megawatts (MW). The Alegria Wind Project is in the pre-development stage and has been chosen as one of the winning bidders in the Department of Energy’s fourth Green Energy Auction, Alternergy Holdings said. The project has a committed delivery date in late 2028, the company said. It added in a disclosure to the Philippine Stock Exchange that it has been working to acquire 2,375,000 shares of the MCPSI for the Cebu wind project “for an aggregate investment amount of P2.5 million.” “We are excited to develop our first wind project in Cebu, which marks a significant step in expanding our renewable energy portfolio into the Visayas Grid,” Alternergy president Gerry Magbanua said. He said the acquisition of the Alegria Cebu wind project will contribute to accomplishing Alternergy’s goal of reaching a total energy capacity from renewable energy projects of 1,000 MW by 2030. “Given the track record of Alternergy in wind project development, we are pleased to collaborate with Alternergy in developing the first wind energy undertaking on the island of Cebu,” MCPSI chief executive officer Pedro Pascual said. Other projects currently pursued by Alternergy include the 128-MW Tanay Rizal Wind Power Project and the 64-MW Alabat Wind Power Project in Quezon Province. The two wind projects are among five RE projects under construction by Alternergy as it aims to have at least 500 MW worth of capacity by 2026. Apart from wind power projects, Alternergy is also currently developing the 28-MW-peak Solana solar power project in Bataan; the 4.6-MW Dupinga run-of-river hydro project in Nueva Ecija; and the 17.4-MW Kiangan run-of-river project in Ifugao Province. Earlier this year, the company said it has been working to achieve a total generating capacity of 311 MW by the end of 2025, from its existing RE portfolio of 86 MW.

Business

Prime Infra closes P50B deal to acquire 60% First Gen natgas assets

Razon-led Prime Infrastructure Capital Inc. (Prime Infra) has reached the financial close of its P50 billion transaction to acquire and operate the natural gas assets of First Gen Corp. in Batangas City. With the financial close, Prime Infra now owns 60 percent controlling stakes in the pool of natural gas-fired power plants, including the 1,000-megawatt (MW) Santa Rita Power, 500-MW San Lorenzo, 450-MW San Gabriel, 97-MW Avion and the proposed 1,200-MW Santa Maria, the company said in a statement on Monday, November 17, 2025. First Gen said the deal let it retain a 40-percent ownership of the natural gas assets. Prime Infra also now controls 60 percent of the Batangas offshore liquified natural gas terminal, with the other 20 percent owned by First Gen, and the remaining 20 percent by Japan’s Tokyo Gas, the companies said in their statements. Guillaume Lucci, Prime Infra president and chief executive officer, said the strategic partnership with First Gen will support energy security and the growth of sustainable energy in the Philippines. “These gas-fired power plants have played a critical role in supporting the Philippine economy and advancing the decarbonization of our energy mix. Our goal is to continue growing this platform together with First Gen to accelerate the country’s transition away from a power system that is still coal-dependent,” Lucci said. He also highlighted the synergy of the gas assets with Prime Infra subsidiary, Prime Energy Resources Development B.V., the operator of the Malampaya deep-water gas-to-power project, the country’s only indigenous natural gas field. “With this transaction, our Prime Infra assets are now fully connected across the energy value chain, from upstream to midstream to downstream,” Lucci explained. Meanwhile, Francis Giles Puno, First Gen president and chief operating officer, said the strategic partnership will help realize a decarbonized future in the country. “This partnership marks not just a new chapter, but a renewed commitment to the work that powers this nation every day, to grow our gas platform responsibly, to strengthen our country’s energy security, and to help ensure that the Philippines transitions to clean energy,” Puno said. Prime Infra is the infrastructure arm of the Razon Group investing in, developing, and operating critical assets in essential sectors such as energy, water, and waste management. First Gen is the Lopez Group’s power business arm, which currently has 1,651 MW of installed renewable energy capacity from 28 solar, wind, hydro and geothermal power plants. It also has another 2,017 MW of capacity from four other power plants that run on natural gas in partnership with Prime Infra for a total capacity of 3,668 MW.