Alternergy Holdings Corp. subsidiary Alternergy Tanay Wind Corp. has secured the third drawdown of ₱1.4 billion from its ₱5.3-billion loan facility with Bank of the Philippine Islands (BPI) and Security Bank, the company announced Sunday.
The disbursement brings the total amount released by the joint lenders to ₱4.9 billion, leaving only ₱400 million available for future drawdowns. The funds are earmarked for the 128-MW Tanay wind power project in Rizal province, which costs ₱7.1 billion and targeted for completion by the end of the year.
Alternergy CFO Carmen Diaz underscored the corporate and commercial importance of the milestone, citing the “unwavering support and commitment” of their banking partners as key to advancing the project’s timeline and execution.
The project recently marked a major construction milestone with the arrival of the first shipment of wind turbine components, including twelve 90-meter blades, at the Dinahacan Port in Quezon. A second shipment is expected in August.
The Tanay facility is one of five renewable energy (RE) projects currently being developed by Alternergy, alongside the 64-MW Alabat wind project in Quezon, the 28 MW-peak Solana solar project in Bataan, and two hydro projects in Nueva Ecija and Ifugao. The company aims to expand its RE portfolio to at least 500 MW by 2026.
