1. Clean energy investment
2. Renewable energy financing
3. Sustainable energy funding
Alternergy Holdings Corp., a renewable energy developer in the Philippines, has successfully raised P20 billion in just 15 months since becoming a publicly listed company. The funds will be used to advance their renewable energy agenda and construct new projects with a total capacity of 204 megawatts. Half of the funding will go towards the Tanay Wind Power Project, while the rest will support projects in Quezon and Bataan. With plans to reach 500 MW of clean energy capacity by 2026, Alternergy has secured loans from various financial institutions and is focusing on sustainable growth in the renewable energy sector.
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Alternergy Holdings Corp., a leading renewable energy developer in the Philippines, has successfully raised P20 billion in just 15 months since becoming a publicly listed company. This significant achievement is a testament to the company’s commitment to advancing its renewable energy agenda and expanding its clean energy capacity.
With the funds secured, Alternergy is set to embark on the construction of new renewable energy projects with a total capacity of 204 megawatts (MW). A major portion of the funding will be allocated to the development of the 112-MW Tanay Wind Power Project in Rizal province. Additionally, investments will be made in the 64-MW Alabat Wind Power Project in Quezon province and the 28-MW Solana Solar Power Project in Bataan.
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In a recent press briefing, Alternergy President Gerry Magbanua highlighted the company’s goal of reaching 500 MW of clean energy capacity by 2026. To support this ambitious target, Alternergy has been securing financing from various financial institutions and implementing strategic fundraising initiatives.
One notable fundraising effort involved the subsidiary Alternergy Tanay Wind Corp., which secured an P8-billion loan from Bank of the Philippine Islands and Security Bank Corp. for the Tanay Wind Power Project. In addition, Alternergy obtained a P2-billion green corporate loan from BDO Unibank Inc. to support its new renewable projects.
Magbanua emphasized that the loans secured by Alternergy are in line with the Green Finance Framework established in collaboration with the Asian Development Bank (ADB). The success of these financing activities, combined with the proceeds from the company’s preferred share sale and initial public offering (IPO), has paved the way for the realization of Alternergy’s expansion plans.
Looking ahead, Alternergy is focused on not only completing the current projects but also exploring new opportunities for growth. The company is set to develop the Liberty aquavoltaic project in Tarlac and expand its solar rooftop projects to further enhance its clean energy portfolio.
Currently, Alternergy operates projects with a total capacity of 86 MW, and with the additional funding secured, the company is well-positioned to achieve its medium-term target of 500 MW capacity by 2026. By continuing to invest in renewable energy projects, Alternergy is playing a crucial role in driving the country’s transition towards a sustainable and environmentally friendly energy sector.
In conclusion, Alternergy’s successful fundraising initiatives underscore its dedication to advancing clean energy solutions and contributing to a greener future for the Philippines. With a clear vision and strategic approach, the company is poised to make a significant impact in the renewable energy sector and play a key role in the country’s energy transition.