The board cleared an initial P3 billion issuance with an oversubscription option of up to P2 billion from unissued PPS2 Series B and C, with the offer planned later in 2026 subject to Securities and Exchange Commission and Philippine Stock Exchange approvals.
Capital for new projects
“The public offering sets in motion Alternergy’s new round of capital raising as we roll out our next pipeline of projects,” said Gerry Magbanua, president of Alternergy.
The company recently secured five projects totaling up to 500 megawatts under the Department of Energy’s Green Energy Auction 4 program, located across Luzon, Visayas and Mindanao.
Big banks arranging the deal
PNB Capital and Investment Corp. and RCBC Capital Corp. were mandated as joint issue managers, joint lead underwriters and joint bookrunners.
Alternergy said proceeds will help fund solar, wind and battery storage projects as it targets one gigawatt of capacity by 2030.
The planned issuance also follows the company’s receipt of a Securities and Exchange Commission Green Equity Label certification, which may widen its investor base for sustainability-linked funding.
—Edited by Miguel R. Camus
