The board of listed Alternergy Holdings Corp. approved the company’s plan to secure up to P4 billion in green corporate loan to support the construction of its renewable power projects with a combined capacity of 204 megawatts.
“We are pleased to receive final board go signal to expand the company’s capital raising initiatives. This would boost financial capacity of our shovel-ready projects to immediately commence construction,” Alternergy president Gerry Magbanua said.
The proceeds from the green corporate loan facility will fund the construction of the 112-MW Tanay and 64-MW Alabat wind projects in the provinces of Rizal and Quezon, respectively, and the 28-MW Solana solar power project in Hermosa, Bataan. The three new power projects will add up to 204 MW of new capacity aimed at supporting Alternegry’s growth trajectory and help address the country’s supply generation constraints.