Alternergy Unveils P5-Billion Green Preferred Share Offering to Power Next Phase of Renewable Expansion
Renewable energy developer Alternergy Holdings Corporation (ALTER) has secured board approval to launch a public offering of up to P5 billion in Green Perpetual Preferred Shares (PPS), marking a new capital-raising initiative to fund its expanding portfolio of clean energy projects. The planned issuance includes a base offer of up to P3 billion, with an oversubscription option of up to P2 billion, to be drawn from the company’s unissued PPS2 Series B and Series C shares. The offering remains subject to regulatory approvals from the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE).
To lead the transaction, Alternergy appointed PNB Capital and Investment Corporation and RCBC Capital Corporation as Joint Issue Managers, Joint Lead Underwriters, and Joint Bookrunners. The move signals the company’s readiness to tap both institutional and retail investors as it accelerates the rollout of new renewable energy assets across the country.
Company President Gerry P. Magbanua said the offering initiates Alternergy’s next growth cycle following its major success under the Department of Energy’s Green Energy Auction 4 (GEA 4) program. Officially awarded in January 2026, the GEA 4 projects increase Alternergy’s development pipeline and reinforce its target of achieving one gigawatt of renewable capacity by 2030. The five awarded projects—Liberty Floating Solar Phases A and B, Kalandagan Solar with Battery Energy Storage System (BESS), Alegria Wind, and Tayabas North Wind—have a combined capacity of up to 500 megawatts and are strategically located across Luzon, Visayas, and Mindanao.
Further strengthening investor confidence, Alternergy recently became the first company to receive the SEC’s Green Equity Label certification. The recognition highlights the environmental integrity of its fundraising initiatives and is expected to attract sustainability-focused capital. According to Magbanua, the Green PPS offers investors a meaningful opportunity to participate in financing projects that contribute directly to the country’s clean energy transition and long-term sustainable development.
