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Alternergy gets P800M for Bataan solar farm
Alternergy Holdings Corp. has secured an initial ₱800 million from its P1-billion loan deal with Rizal Commercial Banking Corp. (RCBC) for its Balsik solar power project in Bataan.
The funds released by RCBC to Alternergy's unit, Solana Solar Alpha Inc., will support the construction of the 28 MWp solar facility.
Gerry Magbanua, president of Alternergy, expressed gratitude to RCBC for expediting the release of the first two funding tranches.
The entire Balsik solar project requires a total investment of P1.4 billion and is expected to be operational within the first half of the year.
RCBC has previously provided significant financing for Alternergy's other renewable energy projects, including the Alabat Wind Power project.
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