top of page
  • Writer's pictureAlternergy

Alternergy mandates 3 investment banks to raise Php12 billion project financing for its Green Energy

October 2, 2023--Renewable power pioneer and publicly listed Alternergy Holdings Corporation (Alternergy) announced it has tapped three leading investment banks as lead arrangers to arrange a Php 12.0Billion project finance structure for the construction of two wind power projects it won under the Green Energy Auction 2 (GEA 2) Program in July 2023.

Alternergy issued the mandate to BPI Capital, RCBC Capital and SB Capital after a competitive process. The three investment houses are expected to assist Alternergy in finalizing the terms and structure of the debt financing for the Tanay Wind Power Project in Rizal and Alabat Wind Power Project in Quezon.

“Alternergy is delighted to work with these investment banks that will support us in expanding our green loan financing. We have been a long-term partner of RCBC Capital and equally excited to forge new partnerships with BPI Capital and SB Capital,” Alternergy chairman Vicente S. Pérez Jr. said.

Alternergy has established a strong track record of completing construction of its renewable power projects through project financing schemes since 2014.

“The total Php12.0billion mandate would be the largest project financing deal to be undertaken by Alternergy and we appreciate the support from RCBC Capital, BPI Capital and SB Capital to ensure that the transactions would yield the most benefit for the Tanay and Alabat Wind Power Projects as laid out under the DOE’s GEA 2 Program,” Gerry Magbanua, Alternergy president said. He added that Alternergy and the three investment banks, as lead arrangers, are eager to proceed with the transaction to target financial closing by the end of the year.

The Tanay and Alabat Wind Projects have a capacity of up to 164 MW and are expected to be completed by 2025.

Mr. Pérez underscored that the two wind projects demonstrate Alternergy’s commitment to supporting the government’s renewable energy targets. "We are forging the path to a sustainable future and fully committed to support the National Renewable Energy Program (“NREP”) to increase the share of the clean energy generation mix to 35% by 2030 through our climate change mitigation business operations,” he said.


252 views0 comments

Comentários


bottom of page