State-backed Government Service Insurance System (GSIS) has invested P1.45 billion in Alternergy Holdings Corp., a renowned renewable power player.
GSIS, as the foundational investor, aims to support Alternergy in advancing its wind, solar, and hydropower projects. Wick Veloso, GSIS president, emphasized the commitment to building a robust infrastructure investment portfolio in renewable energy, aligning with the Philippines’ National Renewable Energy Program.
Vicente Perez Jr., Alternergy chairman, expressed gratitude for GSIS’s support, noting that it will accelerate the company’s rollout of wind, solar, and run-of-river projects.
Alternergy recently had an IPO, and GSIS’s investment will enhance its equity base for sustainable nation-building initiatives. The Investment & Capital Corp. of the Philippines (ICCP), Alternergy’s financial advisor, facilitated the private placement with GSIS, showcasing continued support for the renewable energy player.
Alternergy has engaged in various financial activities to secure capital for its project pipeline, including seeking funds from major banks for wind power projects under the Green Energy Auction 2 by the Department of Energy (DOE).
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 injects P1.45 billion into Alternergy Holdings Corp., a key player in renewable energy. This strategic investment aims to propel Alternergy's wind, solar, and hydropower projects, contributing to the Philippines' green energy goals. GSIS, as a foundational investor, underscores its commitment to building a robust portfolio in sustainable infrastructure, aligning with national renewable energy initiatives.){kind=link}