Alternergy targets retail investors for P10-B green bond program

Insider Spotlight

• Alternergy plans to offer green bonds to retail investors with a minimum investment of P50,000.
• The company is preparing an initial offering of up to P4 billion in early 2027, under a P10-billion program.
• Proceeds will finance solar and wind projects, allowing ordinary Filipinos to participate in renewable energy investments.

Renewable energy developer Alternergy Holdings Corp. is opening its next major fundraising exercise to ordinary Filipino investors, offering green bonds with a minimum investment of P50,000 as part of a broader P10-billion financing program.

The listed company, chaired by former Energy Secretary Vince Perez, is seeking to make renewable energy investments accessible to individuals who want to participate directly in the country's transition toward cleaner power.

In a press briefing on Tuesday, Nov. 10, 2026, Perez said the retail offering was designed “to allow more Filipino professionals, families to participate in the green story.”

Opening green investments to Filipinos

Alternergy's board approved on Tuesday, November 10, a proposed shelf registration of up to P10 billion in fixed-rate green bonds with the Securities and Exchange Commission.

The company plans to launch an initial P3-billion offering, with an oversubscription option of up to P1 billion, targeting a listing on the Philippine Dealing & Exchange Corp. in the first quarter of 2027.

The P50,000 entry point would allow individual investors to participate in financing renewable energy infrastructure through fixed-income securities, rather than limiting the fundraising exercise to institutional investors.

P4-billion initial offering

Perez emphasized that the P10-billion program represents Alternergy's borrowing capacity over five years, not an immediate financing requirement.

"We're not going to borrow P10 billion upfront. That's too much." Perez said after the company's stockholders' meeting in Makati City.

The initial P4 billion will help finance three renewable energy developments—two solar projects and one wind farm—awarded under the Department of Energy's fourth Green Energy Auction.

The planned bond offering follows Alternergy's successful issuance of P2 billion in enrolled corporate notes in September.

Banks compete for financing

Alongside the retail bond program, Alternergy is negotiating with four banks competing to provide project financing for the three developments.

The company is pursuing a financing structure combining bond proceeds with loans from financial institutions to support its renewable energy expansion.

The green bond program also replaces Alternergy's earlier plan to issue perpetual preferred shares, which has been deferred indefinitely.

Final interest rates, maturities and other offering terms remain subject to determination and regulatory approvals.

For retail investors, the initiative would provide another opportunity to earn fixed-income returns while helping finance Philippine renewable energy projects.

— Edited by Daxim L. Lucas