Alternergy Holdings Corp., led by chairman, co-founder, and former Energy Secretary Vicente Pérez Jr., secured a P5.3 billion project finance facility from Rizal Commercial Banking Corp. (RCBC), bringing the company closer to meeting its 500 megawatt target by 2026.
This loan, the largest extended by RCBC to Alternergy since 2014, will partially fund the construction of the 64 MW Alabat Wind Power Project in Quezon province.
“Alternergy has so far closed P18.4 billion out of the P21 billion capital raising program,” said Maria Carmen Diaz, Alternergy’s chief financial officer and chief sustainability officer.
She said the company is working on additional financing "as part of Alternergy’s accelerated roll-out of its project portfolio to 500 MW by 2026".
The project financing was arranged by RCBC Capital Corp., with legal counsel provided by Puyat Jacinto Santos Law and Tantoco Villanueva & De Guzman Law.
