Alternergy Holdings Corp. has secured a P2 billion green corporate loan with BDO Unibank Inc. to fund its pipeline of renewable energy projects.
Alternergy said the move is part of capital funding strategy to support the timely construction of its renewable power projects, particularly the Tanay and Alabat wind power projects in the provinces of Rizal and Quezon, as well as the Solana solar power project in Hermosa, Bataan.
“This marks the first issuance of our Green Corporate Loan facility under Alternergy’s Green Finance Framework… As a Green Corporate Loan, Alternergy demonstrates our commitment to sustainability by strictly adhering to the international principles, guidelines and standards on green finance instruments,” said Gerry Magbanua, Alternergy president, in a statement.
“BDO has been a long-time partner to Alternergy over the years in building our portfolio as a pure-play renewable company. We welcome once again BDO’s leading role in our innovative sustainability- linked financial instrument,” Magbanua added.
Prior to this, Alternergy, through its wholly-owned subsidiary Alternergy Tanay Wind Corp. also secured up to P8 billion financing facility from the Bank of the Philippine Islands and Security Bank Corp. as co-lenders.
Alternergy said last Tuesday the amount will be utilized to fund construction of its 112 megawatts (MW) Tanay wind power project in Tanay, Rizal.
