Alternergy readies P15-B fundraising to complete 500-MW pipeline

Alternergy Holdings Corp. (ALTER) will soon return to the market to raise around P15 billion to bankroll remaining renewable power projects in its pipeline in line with its target to reach 500 megawatts by 2026.

The financing for about 190 MW of projects will likely be through a combination of equity and debt, although the final structure is still under internal discussion, company president Gerry P. Magbanua told reporters on Thursday.

“That’s something we continue to seek funding for in the next few months,” Magbanua said.

These projects are the 94 MW Sembrano wind project, the 17 MW Kiangan hydro project, and the 80 MW Liberty solar project.

 Gerry P. Magbanua

Alternergy Holdings President 

During the briefing, Magbanua said they were on track to deliver another 225 MW by 2025.

The company executive is confident there won’t be funding difficulties, as the shift to green energy has made it easier to secure financing for renewable projects.

“ALTER is one of the fastest-growing renewable energy developers in the country. We had earlier set a goal of raising P20 billion in equity and debt capital within a five-year period. Instead, we did it in only 15 months, which paved the way for the accelerated construction of our projects,” Magbanua said in a separate statement.