A Brown Company, Inc. has completed its P2.3-billion investment in two wind farm projects of Alternergy Holdings Corp. in Rizal and Quezon, acquiring a 40% equity stake in each project, according to a statement from Alternergy on Monday as reported by BusinessWorld.
The two-phase transaction was completed ahead of the agreed schedule after A Brown decided to finalize its investment earlier than planned. The deal strengthens Alternergy's capital for its renewable energy projects in the Philippines.
A Brown's investment marks a significant step in its expansion into renewable energy, aligning with the country's push for cleaner power sources. The wind farms are expected to contribute to the grid once operational.