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Alternergy unit gets P8B for Tanay project

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Alternergy News

Unit,Gets,P8B

ALTERNERGY Holdings Corp. subsidiary Alternergy Tanay Wind Corp. has secured another loan for the construction of its 112-megawatt wind power plant in Tanay, Rizal.

In a disclosure on Tuesday, Alternergy said it obtained P4 billion in funding from Bank of the Philippine Islands and another P4 billion from Security Bank Corp.BPI Capital Corp. and SB Capital Investment Corp. acted as mandated joint lead arrangers for the transaction.'We are delighted to partner with BPI and Security Bank for the first time,' Alternergy President Gerry Magbanua said in a statement.

'Their support comes at a critical time as we push forward with accelerated construction to bring our Tanay Wind Power Project into commercial operations by end 2025,' he added.With project financing secured for the Tanay facility, Alternergy is scheduled to break ground next month.The Tanay plant along with the Alabat wind power project were awarded during the second round of the Department of Energy's Green Energy Auction Program.Alternergy's share price was unchanged at P0.

 

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