Alternergy eyes add'l P15 B to fund projects

Alternergy Holdings Corp.is planning to secure an additional P15 billion in fresh funds to boost the development of its renewable energy projects across the country.

- BRIX LELIS

"In terms of amount, 191 megawatts (worth of projects) would probably require around P15 billion of capital expenditure," Alternergy president Gerry Magbanua told a press briefing.

He said the additional funding would be used to bankroll two projects in the pre-development stage and one project slated for completion by 2026.

"We will need to raise capital through debt and equity. And normally, once we implement a project, we typically do it on a project finance basis," Magbanua said.

The funding will be composed of 75 percent debt and 25 percent equity.