Alternergy Holdings Corp., led by bilyonaryo investment banker Vince Perez, has awarded the engineering, procurement and construction (EPC) contract for the 20 megawatt Solana solar power project in Hermosa, Bataan to JGC Philippines, the largest overseas EPC subsidiary of Japan’s JGC Group.
The project will be undertaken by Alternergy’s wholly-owned subsidiary Solana Solar Alpha (SSAI), which has issued a notice to proceed with the early work activities.
JGC Philippines was selected after a competitive bidding process involving six companies from China, Germany, India, and Japan.
The project is expected to pave the way for Alternergy’s full equity participation in the Solana Project, after the company raised funds from a successful public offering in March 2023.
With expansion plans in the next five years, Alternergy aims to develop up to 1,370 MW of additional renewable energy projects, including wind, offshore wind, solar, and run-of-river hydro projects.