Renewable energy developer Alternergy Holdings Corp. is prepared to spend up to P20 billion over the next three to five years and install 350 megawatts (MW) worth of new energy projects.
“Alternergy is embarking on a triple play strategy where we’re looking at developing run-of-river hydro projects, solar projects and wind projects. In the next three to five years, we’ll have representative projects for each of these technologies and that’s part of our P20 billion capital expenditure” program, said Gerry Magbanua, Alternergy president.
Seventy percent of Alternergy projects are typically funded by loans and remaining 30 percent by equity.
Strategic partners also help underwrite such projects, Magbanua added.
He also said that of the proposed 300 MW to 350 MW planned in the next three to five years, 33 MW are solar, 220 MW onshore wind and 50 MW as run-of-river hydro projects.
Earlier, the company said proceeds from an upcoming initial public offering will help fund pre-development activities of projects in the pipeline.
