Alternergy Holdings Corporation has inked a green corporate loan with Banco De Oro (BDO) Unibank, Inc. to fund the construction of its renewable energy projects in Rizal, Quezon, and Bataan.
“As a Green Corporate Loan, Alternergy demonstrates our commitment to sustainability by strictly adhering to the international principles, guidelines, and standards on green finance instruments,” said Alternergy President Gerry P. Magbanua.
In a disclosure to the Philippine Stock Exchange (PSE), Alternergy said it had obtained a green corporate loan of around Php 2 billion to advance its renewable energy initiatives.
The funding will facilitate the continued construction of the Tanay and Alabat Wind Power Projects in Quezon and Rizal, along with the Solana Solar Project in Hermosa, Bataan.
The three power projects, when finished by the end of 2025, will provide 204 megawatts (MW) of additional capacity, meeting the company’s growth trajectory goal and contributing to the country’s continuous electricity supply problem.
BDO Capital and Investment Corporation serve as the Mandated Lead Arranger, with Romulo Law acting as the lender’s counsel and MVGS Law representing the borrower.
The Tanay wind power project raised Php 8 billion earlier this week to fund its quick progress.
Photo courtesy of Alternergy Holdings Corporation
