Alternergy Holdings Corp. has secured P1.4 billion in funding from Bank of the Philippine Islands (BPI) and Security Bank for its Tanay Wind Power Project.
The latest disbursement marks the third drawdown, bringing the total amount released by BPI and Security Bank to P4.9 billion for the project in Rizal province.
“We are delighted to receive a total of P5 billion to date from BPI and Security Bank, underscoring the continued progress of our Tanay Wind Power Project’s construction,” said Carmen Diaz, chief financial officer of Alternergy Tanay in a statement.
“We appreciate the unwavering support and commitment from our lenders, which is crucial in bringing this project to fruition,” said Diaz said.
Construction of the Tanay Wind Power Project is progressing, with the first shipment of wind turbine generators, including twelve 90-meter wind blades, arriving at Dinahacan Port I in Infanta, Quezon, earlier in July.
Diaz said the next shipment of wind turbine generators is anticipated to arrive in August 2025.
The Tanay Wind Power Project is one of five renewable energy projects Alternergy is constructing as part of its goal to achieve 500 megawatts (MW) of capacity by 2026.
Alternergy is a renewable power company with a portfolio of projects including wind, run-of-river hydro, solar, battery storage and offshore wind projects.
 has received an additional P1.4 billion in funding from BPI and Security Bank for its Tanay Wind Power Project, bringing total financing to P4.9 billion. Construction is underway with turbine shipments arriving.){kind=link}