Alternergy Sets ₱20-B CapEx

Renewable energy firm Alternergy Holdings Corp. has set a capital expenditure (CapEx) of P20 billion in the next three to five years to build up to 350 megawatts (MW) of green projects.

Photo Insert: The company has lined up 220 megawatts (MW) of onshore wind, 33 MW of solar, and 50 MW run-of-river (ROR) hydro projects in the medium term.

In a recent media roundtable, Alternergy president, Gerry Magbanua, said the company has lined up 220 megawatts (MW) of onshore wind, 33 MW of solar, and 50 MW run-of-river (ROR) hydro projects in the medium term.

“For the entire group in the next three to five years, we’re looking at a total CapEx of P20 billion for the lineup of the projects we have. As you know, Alternergy is embarking on a triple play strategy where we’re looking at developing ROR hydro projects, solar projects, and wind projects,” he said.

Funding for the CapEx will be 30% equity and 70% project financing. Alternergy plans to partner with other developers but will maintain majority ownership in each project company.

“The goal is to have majority stakes in these projects, at least 51% or 50% plus one share,” he said.

Alternergy is a RE holding company that has a portfolio of investee companies that embarked on different renewable energy projects such as wind, solar, hydro, floating solar, and battery storage power projects. It aims to build 1,245 MW of renewable energy capacity in the next five years.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic