Alternergy Holdings Corp. is looking to raise around Php 2.5 billion from the issuance of green bonds to fund its renewable energy expansion.
In a report by the Philippine Star, Alternergy president Gerry Magbanua said that green bonds are among the company’s initiatives to help raise funds for the RE projects in its pipeline, adding that the issuance will take place after the initial public offering (IPO).
Alternergy plans to issue the green bonds along with the implementation of its projects, Magbanua added.
Magbanua said that the company has 220 MW of onshore wind, 33 MW of solar, and 50 MW of run-of-river hydro projects in its pipeline for the medium term.
Funding for the CAPEX will be 30% equity and 70% project financing. Magbanua said that the green bonds will finance the equity portion of the capex.
The Alternergy official added a portion of proceeds from the IPO will be channeled to the company’s equity participation in the Lamut hydro project and Solana Solar project in the municipalities of Lamut and Asipulo in Ifugao.