Alternergy bags $34.2m loan for wind projects

BDO Unibank is the lender.

Alterenergy Holdings secured a $34.2m (PHP2b) loan with BDO Unibank to fund the development of its renewable energy projects.

In a disclosure, Alternergy said the omnibus loan and security agreement was signed under a green corporate loan facility. BDO Capital will serve as the lead arranger.

The Asian Development Bank (ADB), said in a separate statement, that the fund would be used for the projects of the company’s subsidiaries Alternergy Tanay Wind Power Corporation and Alabat Wind Power Corporation, as well as the upcoming projects.

The ADB noted that the loan was secured under Alternergy’s Green Finance Framework, in which it provided technical assistance, and is in line with the International Capital Market Association’s Green Bond Principles, the ASEAN Capital Markets Forum’s Green Bond Standards, the Green Loan Principles of the Asia Pacific Loan Market Association, the Loan Market Association, and the Loan Syndications and Trading Association.

“With the establishment of Alternergy’s Green Finance Framework, we expect the company’s future capital-raising activities to be under the same mechanism as the market for sustainability investments continues to grow,” said Alternergy Chief Finance Officer Carmen Diaz.

$1 = PHP58.51