Renewable power producer Alternergy Holdings Corp. thanked the Asian Development Bank (ADB) for its support in securing the company’s first green corporate loan.
“ADB’s technical assistance in crafting Alternergy’s green finance framework opened new opportunities for our capital raising activities. It will boost confidence among sustainability focused investors to support Alternergy’s growth as a pure-play renewable energy company,” said Alternergy chairman Vicente Pérez.
“We successfully concluded our first green corporate loan this week. This was made possible by ADB’s support to debt issuers in tapping the growing market focused on sustainability investments,” Alternergy president Gerry Magbanua said.
The company said that with ADB’s technical support, it has developed a green finance framework which articulates Alternergy’s governance and reporting systems and ensure strict adherence to the principles, guidelines and standards on green finance instruments.
“This transaction demonstrates our commitment to mobilizing green finance for sustainable development in the Philippines,” said ADB economic research and development impact department advisor Satoru Yamadera.
“Renewable energy developers like Alternergy can play a critical role in replacing carbon-intensive energy sources, which would significantly reduce global warming emissions and simultaneously provide employment and education to the host communities of its projects,” Yamadera said.