The state-run pension fund had invested P1.45 billion in ALTER as a perpetual preferred shareholder, trading under the ticker ALTP2 on the PSE Main Board.
The GSIS equity infusion has fast-tracked ALTER’s “Road to 500 MW” initiative, with a target of achieving 500 MW renewable capacity by 2026. This aligns with the government’s push to raise renewable energy’s share to 35 percent by 2030.
ALTER currently has five renewable energy projects under construction, with generating capacity expected to reach 311 MW by the end of 2025. To complete its 2026 expansion goals, ALTER is anticipated to pursue a second capital-raising effort.
Management’s view
“We are very happy to announce the remittance of our first dividend payment to GSIS. This fulfills our commitment to our valued shareholder just a year after GSIS’s initial investment,” Vicente S. Pérez Jr., chair of Alternergy, said in a statement on Thursday.
“As ALTER’s portfolio of renewable power projects starts spinning from next year, we expect a more robust shareholder value, underscoring our dedication to meaningful and sustainable investments,” he added.
