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Alternergy Holdings Corp. said Monday its capital raising activities surpassed P20 billion over a period of 15 months since its initial public offering in March 2023.
“Alternergy’s initial capital raising activity since the IPO in March 2023 is almost at the homestretch. The P20-billion funding will support the timely completion of new generation capacities to contribute to the government’s target to increase renewable energy share and help beef up the country’s power supply situation” Alternergy president Gerry Magbanua said.
Magbanua said another P2 billion representing the second tranche of the green corporate loan is expected to be raised in the first half of 2024. “Once the final signings of the remaining P6.3 billion are done, we expect to go back to the drawing board to further plan for the next round of capital raising activity to reach our medium-term target of 500 MW capacity by 2026,” Magbanua said.
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