Alternergy Holdings Corporation (Alternergy) is beefing up its wind portfolio by acquiring a 95-percent equity stake in MC Project Solutions Inc. (MCPSI), which is developing up to 80 megawatts (MW) of wind power capacity in Cebu.
Alternergy’s wind investment holding company, Alternergy Wind Holdings Corp., (AWHC), will acquire a 95-percent equity stake in MCPSI, which had been awarded by the Department of Energy (DOE) Wind Energy Service Contract (WESC) No. 2024-05-402.
MCPSI was one of the winning bidders in the DOE’s Fourth Green Energy Auction (GEA-4) conducted last September 2, 2025.
MCPSI’s Alegria Cebu Wind Power Project is estimated to generate at least 56 MW up to 80 MW estimated capacity. It is already in the pre-development stage and has a committed delivery date in late 2028.
‘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,’ said Gerry P. Magbanua, president of Alternergy.
The acquisition of the Alegria Cebu Wind Project will contribute to accomplishing the company’s goal of reaching a total energy capacity of renewable energy projects of one gigawatt (1 GW) 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,’ said Pedro Pascual, MCPSI CEO.
Alternergy is engaged in different RE projects, particularly wind, run-of-river hydro, solar farm and commercial rooftop, battery storage and offshore wind projects. The company’s wind power projects that are operating and under construction have a capacity of 246 MW. There are 716 MW more of wind projects that are in the pre-development stage.
With robust expansion plans in the next two years, Alternergy aims to develop up to 500MW of additional wind, solar, and run of river hydro projects.
There are four projects are currently under advanced construction for completion in 4th quarter 2025 and first quarter 2026, namely: 4.6-MW Dupinga run-of-river, 28-MW Balsik Solana, 64-MW Alabat wind and 128-MW Tanay Rizal wind projects, as part of its Road to 500 MW by 2026.