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Alternergy Holdings Corp. said Thursday its unit Alabat Wind Power Corp. secured a P5.3-billion financing to partially fund the construction of its 64-megawatt Alabat wind power project in Quezon province.Alternergy said in a disclosure to the Philippine Stock Exchange its unit secured the funding from Rizal Commercial Banking Corp. , with RCBC Capital Corp. as the mandated lead arranger for the transaction.
Magbanua said the loan is the largest financing facility extended by RCBC to the Alternergy Group since 2014. Alternergy chief financial officer and chief sustainability officer Maria Carmen Diaz said the company closed P 18.4 billion of its P21-billion capital raising program. Alternergy said ground mobilization for the Alabat wind project is ongoing following the groundbreaking in early May.
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