BPI Capital, RCBC Capital and SB Capital will arrange a P12 billion financing for renewable power firm Alternergy Holdings Corp.’s wind power projects.
Alternergy won the wind power projects under the government’s Green Energy Auction Program in July.
The three investment houses are expected to assist Alternergy in finalizing the terms and structure of the debt financing for the Tanay Wind Power Project in Rizal and Alabat Wind Power Project in Quezon.
“We have been a long-term partner of RCBC Capital and equally excited to forge new partnerships with BPI Capital and SB Capital,” Alternergy chairman Vicente S. Pérez Jr. said.
Alternergy and the three investment banks, as lead arrangers, are targeting financial closing by the end of the year.
“The total P12 billion mandate would be the largest project financing deal to be undertaken by Alternergy and we appreciate the support from RCBC Capital, BPI Capital and SB Capital to ensure that the transactions would yield the most benefit for the Tanay and Alabat wind power projects as laid out under the DOE’s GEA 2 program,” said Gerry Magbanua, Alternergy president.
The Tanay and Alabat wind projects have a capacity of up to 164 MW and are expected to be completed by 2025.