RE Firm Secures P3.3-B Funding for Alabat Wind Project
Quezon: Renewable energy pioneer Alternergy Holdings Corp. announced on Monday that it has secured PHP3.3 billion from Rizal Commercial Banking Corp. (RCBC) to finance the Alabat Wind Project through its unit, Alabat Wind Power Corp. According to Philippines News Agency, this funding is part of a larger PHP5.5-billion facility from RCBC dedicated to the 64-megawatt wind project in Quezon province. Alternergy President Gerry Magbanua expressed gratitude to RCBC for the timely release of funds, noting the previous release of PHP800 million for their Balsik Solar project. The Alabat Wind Project is set to become the first wind power facility along