Alternergy Holdings Corp. is considering issuing green bonds to raise funds on top of its initial public offering (IPO) this month.
Gerry Magbanua, Alternergy president, said in a briefing last week the green bonds issuance will raise P2 billion to P2.5 billion while the IPO is expected to generate a net proceed of P1.4 billion.
Green bonds are fixed-income instruments that will specifically fund projects that are related to the climate and the environment.
“We hope to launch that (green bonds) in the next few months so that we are aligning the timing of that in the implementation of our projects. So, we are ready when we implement the projects and we have that source of equity to fund our participation,” Magbanua said.
Alternergy is preparing to spend up to P20 billion in the next three to five years to fund as much as 350 megawatts of new energy projects.
