ALTERNERGY Holdings Corp. on Friday said that its board had approved a public offering of up 50 million perpetual preferred shares at P100 apiece.
In a disclosure, Alternergy said the 30 million in Green Perpetual Preferred Shares valued at up to P3 billion, with an oversubscription option of up to 20 million shares worth up to P2 billion, would be taken out of unissued capital stock.
Proceeds will be used to support a pipeline of projects under the fourth round of the government’s Green Energy Auction Program, or GEA 4.
The company has five projects under GEA 4 with a combined capacity of up to 500 megawatts spread across Luzon, the Visayas and Mindanao: the Liberty floating solar Phase A and Phase B projects, Kalandagan solar plus battery energy storage system (BESS), and the Alegria wind and Tayabas North wind projects.
Alternergy noted that the Securities and Exchange Commission’s recent award to the company of the Green Equity Label certification would help it tap sustainability investment for fresh capital to support its expansion.
“Overall, this public offering sets in motion Alternergy’s new round of capital raising as we roll out our next pipeline of projects,” president Gerry Magbanua said.
“We are thrilled to introduce this kind of offering and are confident that the capital market is ready to welcome green instruments,” he added.
“This public offering provides retail and institutional investors with compelling opportunities while supporting sustainable nation-building.”
PNB Capital and Investment Corp. and RCBC Capital Corp. have been tapped as the joint issue managers, joint lead underwriters and joint bookrunners.
In a separate filing, Alternergy reported net income of P84.1 million for its first six months ended Dec. 31, 2025, down 5 percent from P88.6 million in the same period in 2024, which it attributed to lower wind energy production.
Revenues from electricity sales rose 3.8 percent to P188.049 million from P181.188 million, boosted by the 28 megawatt-peak Balsik solar power plant having come online.
Alternergy’s fiscal year starts in July and ends in June.
“This performance demonstrates the start of a steady flow of revenues to the company and to our shareholders as we begin inaugurating in 2026, one by one, our four projects across our triple portfolio of solar, wind and hydro resource technologies,” Magbanua said.
“The four projects have a total combined capacity of 225 MW,” he added.
“We expect to see a further boost in our operating revenues and overall financial performance in the months ahead as all these projects come on stream in 2026.”
Alternergy shares on Friday shed P0.02 to close at P0.80 apiece.
