Alternergy Holdings Corporation has received PHP1.45 billion in funding from the subscription to perpetual preferred shares of the Government Service Insurance System (GSIS) in the Philippines. The funding will support the next phase of development projects under the Green Energy Auction 2 (GEA-2) program of the Department of Energy (DOE).
The projects will include the construction of the Tanay and Alabat wind power projects and will also develop up to 366 MW of additional solar, and hydro projects by 2026.