Alternergy secures P2 billion loan facility

MANILA, Philippines —  Renewable energy firm Alternergy Holdings Corp. (Alternergy) has secured P2 billion in green financing for the construction of its three renewable energy projects in the country.

These are the Tanay and Alabat Wind Power Projects in the provinces of Rizal and Quezon, respectively and the Solana Solar Power Project in Hermosa, Bataan.

Alternergy said the three new power projects will increase its capacity by 204 megawatts (MW) by the end of 2025.

The company secured the financing through an omnibus loan and security agreement with BDO Unibank Inc. (BDO) signed last May 29.

“This marks the first issuance of our Green Corporate Loan facility under Alternergy’s Green Finance Framework,” Gerry Magbanua, president of Alternergy said.

He said the Green Corporate Loan demonstrates the company’s commitment to sustainability by strictly adhering to the international principles, guidelines and standards on green finance instruments.

BDO Capital & Investment Corp. acted as mandated lead arranger for the transaction.