Alternergy Holdings Corporation has secured shareholder approval for a shelf registration covering future public issuance of its Green Perpetual Preferred Shares, paving the way for potential capital raising to support its expanding renewable energy pipeline.

In a special stockholders’ meeting held on April 8, shareholders unanimously approved the shelf registration and future public offering of up to 50,000,000 Green Preferred Shares, to be issued in one or more tranches at PHP 100 per share, drawn from the company’s unissued capital stock.

The planned issuance remains subject to regulatory approval from the Securities and Exchange Commission and the Philippine Stock Exchange, with timing to be determined based on market conditions.

“With our recent Green Energy Auction (GEA) awards, any issuance of green preferred shares will form part of our capital raising needs,” Alternergy president Gerry P. Magbanua. “We see this unanimous approval as a vote of confidence in renewable energy’s potential, especially amidst global energy security concerns – it is a clear signal that sustainable investments are on the right track.”

He added that any fund-raising activity will be market-dependent. 

“Any issuance will be properly timed to take into consideration market conditions. We will time any issuance tactically, keeping a close eye on global macroeconomic trends and local market conditions,” he said.

Magbanua also pointed to geopolitical risks reinforcing the shift to clean energy. “The Middle East tensions just highlighted how vulnerable the global economy is, including the Philippines. It is time to move faster towards renewables,” he explained.

The capital-raising plan is tied to financing five Green Energy Auction (GEA-4) projects with a combined capacity of up to 500 MW across Luzon, Visayas, and Mindanao. These include floating solar developments, solar plus battery energy storage systems, and wind projects.

The company said proceeds will help fund Liberty Floating Solar Phases A and B, the Kalandagan Solar + BESS project, and the Alegria Wind and Tayabas North Wind projects.

Operationally, Alternergy Holdings Corporation reported continued build-out progress across its portfolio. It has recently commissioned the 28 MWp Balsik Solar Power Plant in Bataan and the 5 MW Dupinga Run-of-River Hydro facility in Nueva Ecija, both now in commercial operation.

Meanwhile, its wind portfolio—comprising the 128 MW Tanay Wind and 64 MW Alabat Wind projects—is about 80% complete, with commissioning targeted in the near term.

The company is positioning its near-term expansion around a multi-project pipeline as it works toward its long-term target of reaching one gigawatt of renewable capacity by 2030.

How do you see investor appetite and Philippine capital market conditions shaping RE financing momentum over the next 12–24 months?

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