Alternergy Tanay Wind Corporation (ATWC), a subsidiary of Alternergy Holdings Corporation, has secured an additional PHP1.4 billion in loan proceeds from the Bank of the Philippine Islands (BPI) and Security Bank for the ongoing development of the Tanay Wind Power Project.

The amount represents the third disbursement under the project’s financing agreement. This brings the total funds released by the two banks to PHP4.9 billion.

“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. “We appreciate the unwavering support and commitment from our lenders, which is crucial in bringing this project to fruition.”

Construction of the wind facility is progressing steadily, with the first shipment of key components arriving earlier this month at Dinahacan Port in Infanta, Quezon. The delivery included twelve 90-meter wind turbine blades and other essential equipment. A second shipment is expected to arrive in August.

The Tanay Wind Power Project is one of five renewable energy projects currently under construction by Alternergy. The developments form part of the company’s broader goal to reach 500 megawatts of installed capacity by 2026.

Alternergy is engaged in various renewable energy ventures including wind, run-of-river hydro, solar, battery storage, and offshore wind projects.

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