The shift broadens Alternergy’s access to institutional investors and provides permanent funding without repayment obligations, strengthening its balance sheet and flexibility.
Preferred shares are non-voting but pay dividends, making them appealing to conservative investors while avoiding dilution of control.
“Our Green Perpetual Preferred Shares Program will allow Alternergy to access a wider base of both retail and institutional investors to broaden our sources of capital,” Alternergy president Gerry Magbanua said in a statement.
The company is accelerating four renewable energy projects in wind, solar, and hydro as part of its goal to reach 500 megawatts of capacity by 2026.
It has raised P9 billion over the past year and is preparing to expand further beyond 2026.
—Edited by Miguel R. Camus
