Alternergy Holdings Corporation is securing a green corporate loan to continue developing its renewable energy (RE) projects for 2024.
Manila Bulletin reported that the green corporate loan, which amounted to Php 4 billion, would be used for the construction of the Solana Solar Power Project in Hermosa, Bataan and the Tanay and Alabat Wind Power in Rizal and Quezon.
Alternergy president Gerry P. Magbanua thanked the board for the green light, saying that this loan would aid in boosting the financial capacity of the projects to ensure its continuous construction.
Magbanua also said that these projects could bolster the country’s electricity capacity to cater to the increasing demand.
Additionally, the firm said that when these projects are completed by the end of 2025, they will deliver clean, sustainable electricity in response to the government’s need to increase the security and dependability of the country’s power supply.
These RE projects are expected to generate around 204 megawatts (MW) of additional capacity.
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