The Philippine Competition Commission (PCC) has cleared ABC Energy, Inc.’s acquisition of a 40% minority stake in Alternergy Holdings Corp.’s two wind power projects, saying the transaction is not likely to result in a substantial lessening of competition in the renewable energy market. BusinessWorld reported the regulator’s announcement on Tuesday.
In its ruling, the PCC said the deal involves the generation and supply of renewable energy and does not raise competitive concerns given the minority nature of the stake. The antitrust body’s approval allows the transaction to proceed, marking another consolidation among players in the Philippines’ expanding renewable energy sector.
Alternergy Holdings is a renewable energy developer with a portfolio of wind and solar projects, while ABC Energy is an investment holding firm. The two wind projects covered by the deal are expected to support the country’s clean energy goals as the government pushes to increase the share of renewables in the power mix.