Alternergy Holdings Corporation (ALTER) has received unanimous approval from its shareholders to create a new series of preferred shares that will help the company raise fresh capital for its upcoming renewable energy projects.

In a special stockholders’ meeting held on September 3, 2025, investors agreed to reclassify 500 million common shares into perpetual preferred shares. These will be divided into five series (Series D to H), with 100 million shares each, and will carry the same terms as the company’s earlier preferred share offerings.

Alternergy President Gerry P. Magbanua said the move is designed to prepare for the company’s next fundraising activity. “Our Green Perpetual Preferred Shares Program will allow Alternergy to access a wider base of both retail and institutional investors to broaden our sources of capital,” he explained.

Over the past year, Alternergy has raised PHP9 billion to build four renewable energy projects. These are the Dupinga hydro (4.6 MW), Solana Balsik solar (28 MW), Alabat wind (64 MW), and Tanay Rizal wind (128 MW). These projects are expected to begin operations between late 2025 and early 2026, thus moving the company closer to its goal of reaching 500 MW of clean power capacity by 2026.

The approval to reclassify shares is still subject to the green light of the Securities and Exchange Commission (SEC).

What renewable energy projects do you think should be prioritized to ensure affordable and sustainable power for Filipino households?

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