Alternergy bags $17.07m financing for Balsik solar project

This will fund the construction of the plant.

Alternergy Holdings Corporation has secured a $17.07m (PHP1b) project finance senior term loan facility which it will use to build its 28 megawatt-peak Balsik Solar Power Project in Hermosa, Bataan.

In a disclosure, the company said the financing was secured from Rizal Commercial Banking Corporation.

“The financing from RCBC further advances the ongoing construction of the Balsik Solar Power Project as we aim to complete by early second half of this year,” Alternergy President Gerry Magbanua.

Aside from the Balsik plant, Alternergy has also tapped RCBC financing for its other projects, such as the 64 megawatt Alabat Wind Power Project, which is subject to financial close, the Pililla Wind Power Project, and the Kirahon Solar Power Project.

$1 = PHP58.57