A BROWN CO., Inc., through its subsidiary ABC Energy, Inc., has secured approval from the Philippine Competition Commission (PCC) for its P2.4-billion co-investment deal with renewable energy developer Alternergy Holdings Corp.
In a regulatory filing on Tuesday, Alternergy said the PCC cleared the proposed acquisition by ABC Energy of a 40% equity stake in each of two subsidiaries developing wind energy projects with a combined capacity of 192 megawatts (MW).
Alternergy Wind Holdings Corp. will retain a 60% majority stake in both subsidiaries.
“The PCC clearance affirms the partnership between Alternergy and ABC Energy as aboveboard, transparent and free of any unfair market manipulation or practices,” Alternergy President Gerry P. Magbanua said.
Alternergy Tanay Wind Corp. is developing a 128-MW wind farm in Rizal, while Alabat Wind Power Corp. is building a 64-MW wind farm in Quezon province.
The Alabat wind project has installed its first 8-MW wind turbine generator, which the company said is among the largest installed in the country.
The two wind farms are among four new power projects scheduled for completion this year with a combined capacity of 225 MW. The Balsik Solar Power Plant in Hermosa, Bataan began commercial operations in February.
These projects form part of Alternergy’s target to expand its renewable energy portfolio to 1,000 MW by 2030.
Meanwhile, ABC Energy’s investment marks its expansion into renewable energy following the divestment of its coal power interest in Palm Concepcion Power Corp. in July 2025.
“The approval by PCC seals our partnership with Alternergy. This is our single largest investment to date and we are looking forward to this partnership as we accelerate ABC Group’s own green energy initiatives,” ABC Energy President Paul B. Juat said.
Proceeds from the investment will be allocated to fund Alternergy’s project pipeline in wind, solar, run-of-river, and battery storage. — Sheldeen Joy Talavera
