Yuchengco Group Backs Alternergy’s Bataan Solar Project with P800M RCBC Funding

Alternergy Holdings Corp., led by Vince Perez, has secured P800 million in financing from Rizal Commercial Banking Corp. (RCBC) for the 28-megawatt peak (MWp) Balsik Solar Power Project in Hermosa, Bataan. The funding, provided through Alternergy’s subsidiary Solana Solar Alpha, Inc. (SSAI), is part of a P1-billion loan facility approved by RCBC.

Alternergy President Gerry P. Magbanua expressed appreciation for the bank’s swift release of the initial two funding tranches following the loan agreement.
“We are grateful to RCBC for expediting the release of the first two funding tranches following our recent loan signing. The release of project funding from RCBC further boosts progress of our ongoing construction works,” Magbanua stated.

Continued Financial Support for Renewable Projects

RCBC has been a long-term financing partner of Alternergy, previously providing P5.3 billion for the 64-MW Alabat Wind Power Project. Over the past decade, the bank has also financed a total of P3.6 billion for Alternergy’s other renewable energy initiatives, including:

• Pililla Rizal Wind Power Project (2014)
• Kirahon Solar Power Project (2015)
• Commercial rooftop solar portfolio (2018)

Expanding Renewable Energy Capacity

The Balsik Solar Power Project is among five renewable energy projects currently under construction as Alternergy targets 500 MW in capacity by 2026. The facility is expected to be completed in the first half of 2025, further strengthening the company’s commitment to clean energy expansion in the Philippines.