Alternergy plans P10bn green bond programme to fund solar and wind projects
Alternergy Holdings Corp. plans to raise up to P10 billion through fixed-rate green bonds to help finance P26 billion in planned investments in solar and wind power projects. The board has approved a five-year shelf registration programme, with the initial offering targeted for the first quarter of
Alternergy Holdings Corp. plans to raise up to P10 billion through fixed-rate green bonds to help finance P26 billion in planned investments in solar and wind power projects. At the company’s annual stockholders’ meeting on Tuesday, Alternergy Chairman Vicente S. Pérez, Jr. said the board of directors had approved a five-year shelf registration programme, with the initial offering targeted for the first quarter of 2027.
The initial tranche will consist of a P3-billion base offer and an oversubscription option of up to P1 billion. “This is a P50,000-retail green [bond offering] to allow more Filipino professionals and families to participate in the green story,” Mr. Pérez told reporters on the sidelines of the meeting. The proposed bonds will be registered with the Securities and Exchange Commission for issuance in tranches over five years.
Alternergy is targeting the listing of the initial tranche on the Philippine Dealing & Exchange Corp. in the first quarter of next year. “Concurrently with that, we already have advanced discussions with project lenders… four banks competing to finance three projects,” Mr. Pérez said.
Alternergy President Gerry P. Magbanua said proceeds from the bond offering would help finance the company’s upcoming wind and solar projects awarded under the Department of Energy’s fourth green energy auction. The company is allocating approximately P26 billion in capital expenditures for the development of two solar farms and a wind power project. The planned developments include a 140-megawatt (MW) solar-on-stilts project in Central Luzon, a 100-MW solar farm with a battery energy storage system in Mindanao, and a 120-MW wind power project in Cebu.
Meanwhile, Alternergy has advanced four renewable energy projects, two of which have begun commercial operations. These include the 28-MW Balsik solar farm in Bataan and the 4.6-MW Dupinga run-of-river hydropower plant in Nueva Ecija. The company’s 64-MW Alabat wind farm in Quezon and 128-MW Tanay wind farm in Rizal have also started generating commissioning revenues ahead of commercial operations. The Alabat wind farm is targeted to begin commercial operations in December, while the Tanay wind farm is scheduled to start in January 2027.
Alternergy aims to expand its renewable energy portfolio to 1,000 MW by 2030 under its Triple Play Portfolio strategy, which covers wind, solar, and run-of-river hydropower. “As our portfolio expands, we expect a significant increase not only in generating capacity, but more importantly, in electricity generation,” Mr. Magbanua said. The company expects its operating capacity to reach 311 MW by the end of 2026 and 873 MW by 2029.
At the local bourse on Tuesday, Alternergy shares rose by one centavo, or 1.54 per cent, to 66 centavos apiece.
