{"id":330519,"date":"2024-11-21T10:53:00","date_gmt":"2024-11-21T02:53:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330519"},"modified":"2024-11-21T10:53:05","modified_gmt":"2024-11-21T02:53:05","slug":"trade-the-news-alter-receives-first-tranche-of-p8-billion-financing","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-alter-receives-first-tranche-of-p8-billion-financing\/","title":{"rendered":"Trade the News: ALTER receives first tranche of P8-billion financing"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Alternergy Holdings Corp.\u00a0<\/td><\/tr>
Stock Code<\/strong><\/td>ALTER<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 1.20<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Alternergy Holdings Corp. (ALTER) said Wednesday its unit Alternergy Tanay Wind Corp. (ATWC) received the first tranche of funding from Bank of the Philippine Islands (BPI) and Security Bank Corp.<\/p>\n\n\n\n

Alternergy said in a statement an initial P1.5 billion was injected into the 128-megawatt Tanay Wind Power Project in Rizal province from the P8 billion non-recourse financing facility with BPI and Security Bank as co-lenders.<\/p>\n\n\n\n

\u201cThe construction of the Tanay Wind Power Project is on full steam as more capital is infused. Our project financing facility has released the first drawdown following successful completion of the conditions precedent set by the lenders,\u201d said Alternergy chief finance officer Carmen Diaz.<\/p>\n\n\n\n

Diaz expressed appreciation to BPI and Security Bank for working collaboratively to ensure that the drawdown is secured in a timely manner.<\/p>\n\n\n\n

Aside from the project finance facility, the Tanay Wind Power Project has also received P1.5 billion as equity capital as of September 2024.<\/p>\n\n\n\n

\u201cWith more fund infusion on a timely manner, the construction of the Tanay Wind Power Project is progressing as scheduled,\u201d Diaz said<\/p>\n\n\n\n

The Tanay Wind Power Project is estimated to cost P11.5 billion and is expected to be completed by end-2025.<\/p>\n\n\n\n

ATWC will install 16 wind turbine generators (WTG) with a rated capacity of 8 MW each, which it said is the largest onshore wind tower to be installed in the country.<\/p>\n\n\n\n

It will be Alternergy\u2019s second wind project in Rizal province, next to the 54-MW Pililla Rizal Wind farm which has been operating since 2015.<\/p>\n\n\n\n

(News Source: Manila Standard<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-330519","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330519","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=330519"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330519\/revisions"}],"predecessor-version":[{"id":330521,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330519\/revisions\/330521"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}