Newly-listed renewable power firm Alternergy Holdings Corp. has appointed former Securities and Exchange Commission member Ephyro Luis B. Amatong as adviser to its board of directors.
The appointment came following Alternergy’s debut at the main board of the Philippine Stock Exchange last Friday as the inaugural initial public offering of the year.
“Commissioner Amatong has a solid track record on financial markets and securities as a former SEC Commissioner. His work as supervising commissioner of markets and securities regulation helped create the right regulatory environment and set the stage for Alternergy to take the plunge of an IPO. This has given Alternergy a fresh inflow of capital to advance to construction phase two of our projects under development,“ Alternergy chairman Vicente S. Perez Jr. said.
These projects pertain to the Solana solar project in Bataan and the Lamut run-of-river hydro project in Ifugao.
Perez said Alternenergy can do other capital-raising activities in the future, including a bond float.
“Lawyer Amatong can be very instrumental in guiding Alternergy with our future capital market issuances, particularly in the area of green bonds.”
Perez said green bonds could be one of the modes in financing projects over the next three to five years.
Amatong, in reaction, expressed confidence the economic uncertainties are opportunities to create innovative schemes that would generate the most benefits to companies seeking financing and growth.
“As a renewable power pioneer, Alternergy has strong prospects for growth as well as multiple opportunities in the growing field of sustainable finance. I look forward to working with the Alternergy team to optimize funding and ensure that its portfolio of power projects is developed and delivered on time for the benefit of the communities it serves,” Amatong, who served as SEC commissioner from May 2014 to March 2022 and admitted to the Philippine and New York bar in 2002 and in 2007, respectively, said.
