Alternergy Holdings Corporation has acquired CleanTech Global Renewables, Inc. for an undisclosed amount, in a definitive corporate transaction. This acquisition marks a significant expansion for Alternergy, integrating CleanTech, a prominent independent power producer and renewable electricity developer based in the Philippines, into its operations.
CleanTech Global Renewables, Inc. specializes in supporting the Philippines’ drive for energy security. The company is actively involved in developing, acquiring, constructing, owning, and operating a diverse portfolio of clean and renewable energy projects. CleanTech is committed to transforming the national energy landscape by providing affordable, clean electricity, while also focusing on environmental preservation and fostering growth and impact within local communities where it operates. The company has a stated goal to develop, acquire, own, and operate 1 gigawatt of renewable energy projects by 2025.
The acquisition is strategically poised to enhance Alternergy’s footprint and capabilities within the Philippine renewable energy sector. By integrating CleanTech’s existing project pipeline and operational expertise, Alternergy is expected to accelerate its growth trajectory and strengthen its position as a key contributor to the nation’s energy transition. Expected synergies include an expanded combined project portfolio, increased operational efficiencies, and a consolidated talent pool with extensive experience in renewable energy development and management.
Through this corporate acquisition, the combined entity aims to leverage shared resources and expertise to scale up renewable energy development and operations. This move is anticipated to solidify their collective capacity to meet the Philippines' growing demand for sustainable power, further contributing to the country's long-term energy security and environmental objectives.