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Manila Bulletin devider Business devider Trade & Industry devider Alternergy prepares to raise funds for renewable energy projects

Alternergy prepares to raise funds for renewable energy projects

Published Sep 3, 2025 02:22 pm
Renewable energy company Alternergy Holdings Corp. is preparing to raise capital for its wind, solar, and hydropower initiatives by reclassifying its common shares into perpetual preferred shares.
In a statement on Wednesday, Sept. 3, Alternergy announced it had secured shareholder approval to redesignate 500 million common shares, each with a par value of ₱0.10, into a new series of perpetual preferred shares.
Alternergy President Gerry P. Magbanua stated that this move will bolster the company’s funding strategy for its renewable energy projects.
He explained that their Green Perpetual Preferred Shares Program will allow Alternergy to reach a wider base of both retail and institutional investors, broadening their sources of capital.
The company plans to subdivide the 500 million preferred shares into five series—D, E, F, G, and H—with 100 million shares allotted to each. These new shares will have the same features as the existing Series A, B, and C perpetual preferred shares.
Following the stockholder approval, these amendments are now subject to regulatory approval by the Securities and Exchange Commission (SEC).
Alternergy has already successfully raised ₱9 billion to support the construction of several key projects. These include the 4.6-megawatt (MW) Dupinga hydropower project in Nueva Ecija, the 28-MW Solana Balsik solar project in Bataan, the 64-MW Alabat wind project in Quezon, and the 128-MW Tanay wind project in Rizal.
With a combined capacity of approximately 224.6 MW, these projects are scheduled to begin operations by the end of this year and in early 2026. This portfolio is part of Alternergy’s Triple Play Portfolio and keeps the company on track with its goal to reach 500 MW by 2026.
In a related development, the Energy Regulatory Commission (ERC) granted Alternergy approval in August to connect the Tanay wind project to the grid via a dedicated point-to-point transmission facility. This connection project is valued at around ₱2.8 billion.

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