Renewable energy pioneer Alternergy Holdings Corp. has secured a green corporate loan from Banco De Oro Unibank, Inc. (BDO) to advance its renewable energy projects in Rizal, Quezon, and Bataan.
In a disclosure to the Philippine Stock Exchange (PSE), Alternergy announced it obtained a P2 billion green corporate loan to continue developing the Solana Solar Project in Hermosa, Bataan as well as Tanay and Alabat Wind Power Projects in Rizal and Quezon.
Alternergy President Gerry P. Magbanua stated that this marks the first loan issued under the company’s green finance framework.
“As a Green Corporate Loan, Alternergy highlights our commitment to sustainability by strictly adhering to international principles, guidelines, and standards for green finance instruments,” he stated.
“BDO has been a steadfast partner to Alternergy over the years, aiding in the development of our portfolio as a dedicated renewable energy company. We are pleased to have BDO once again take a leading role in our innovative sustainability-linked financial instrument,” Magbanua added.
Expected to be operational by the end of 2025, the three power projects will contribute 204 megawatts (MW) of new capacity, supporting the company’s growth and addressing the country’s electricity supply challenges.
BDO Capital and Investment Corp. was designated as the Mandated Lead Arranger, with Romulo Law serving as the lender’s counsel and MVGS Law as the borrower’s counsel.
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