Alternergy Holdings Corp.said Wednesday its board has mandated BDO Capital & Investment Corp. lead arranger for a green bond issue of up to P4 billion.
The listed renewable energy company said its management has been authorized to negotiate the terms of the green bond issue, whose terms are still subject to board approval.
Alternergy said the appointment of BDO Capital as lead arranger for the bond is in relation to the company’s capital-raising activity for the development of renewable power projects won by its subsidiaries under the Green Energy Auction 2 Program of the Department of Energy.
The DOE has awarded the listed energy company’s bid for three projects—two wind and a solar farm—with contracted capacity of 200 megaWatts, which will push the renewable energy firm’s capacity in the next three years to 384 MW from the current 80 MW. Construction of these projects starts next year.
The 86 MW wind farm is located adjacent to Alternergy’s existing wind farm in Pililla, Rizal and the 55 MW Alabat Island Wind Power Project located in the province of Quezon. It also won the bid for a 67 MW direct current solar ground-mounted power project in Tarlac.
