The company, chaired by Vicente Pérez Jr., said in a statement that it had allocated P1.5 billion for Alternergy Tanay Wind Corp.'s Tanay Wind Power Project and P1.1 billion for Alabat Wind Power Corp.'s Alabat Wind Project.
These projects support Alternergy’s goal of achieving a 500-MW capacity by 2026.
Management’s view
“With the capital infusion so far, ALTER is keen to ensure timely completion of the three projects,” ALTER president Gerry P. Magbanua said.
“The Tanay and Alabat Wind power projects are expected to be completed by the end of 2025 based on the committed delivery date under the Green Energy Auction 2 (GEA 2) Program, while the Hermosa Solar Power Project is to be completed by the second quarter of 2025,” he added.
ALTER said an additional P342 million was infused into Solana Solar Alpha Inc. for the Hermosa Solar Project. These projects are funded through proceeds from ALTER’s initial public offering and a P2 billion green loan from BDO Unibank.
Further funding is anticipated from recent agreements, including P8 billion from BPI and Security Bank for Tanay, and P5.3 billion from RCBC for Alabat.
