Alternergy to raise $211.1m for wind projects

This will fund the Tanay and Alabat wind power projects.

Philippines-based renewable energy firm Alternergy Holdings will be raising around $211.2m (PHP12b) to fund the construction of its two power projects, tapping three investment banks as the lead arranger for the fundraising.

In a statement, Alternergy said BPI Capital, RCBC Capital and SB Capital will assist the company with the debt financing for the Tanay Wind Power Project in Rizal Province and the Alabat Wind Power Project in Quezon Province.

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Both projects were won under the Green Energy Auction 2 Programme last July.

Alternergy President Gerry Magbanua said this is the company’s largest project financing deal.

The two wind projects have a total capacity of up to 164 megawatts and will be completed by 2025.

$1 = PHP56.81