ALTERNERGY Holdings Corp. (Alternergy) has signed an interconnection agreement (ICA) with National Grid Corp. of the Philippines (NGCP) for the Alabat wind power project in Quezon province.

The deal, accomplished via Alternergy unit Alabat Wind Power Corp. (AWPC), will see the wind project output being delivered through NGCP's 69 kiloVolt (kV) Hondagua transmission line in Lopez, Quezon.

"The ICA signing is a huge breakthrough for the Alabat wind power project," Alternergy and AWPC President Gerry Magbanua said.

"We are grateful to NGCP for boosting the project's ability to meet its commitment to the Department of Energy under the Green Energy Auction 2 (GEA 2) Program," he added.

"NGCP has provided the Alabat wind power project with an interconnection scheme that is most efficient and responsive to ensure viability and timely completion."

NGCP President and CEO Anthony Almeda said that as the transmission network provider and system operator, the firm aimed to assist power project developers and help accelerate green energy production.

"NGCP understands the challenges faced by renewable energy developers," Almeda said.

"We are pleased to work with Alternergy and AWPC to ensure that the renewable power capacity from the Alabat wind power project will be delivered within its committed timeline."

A notice to proceed for the Alabat wind power project is expected to be issued next month. Altenerguy said it was committed to deliver completion of the project by the end of 2025 under the GEA 2 program.

Alternergy shares were unchanged at 76 centavos each last Wednesday.

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