Philippines-based Alternergy Holdings Corp., through its subsidiary Solana Solar Alpha, Inc. (SSAI), has secured PHP 800 million (~$ 13.6 million) in financing for the Balsik Solar Power Project in Bataan. The funding from Rizal Commercial Banking Corp. (RCBC) is part of a PHP 1 billion (~$ 17 million) loan facility approved by RCBC. According to Alternergy, the initial two tranches of the loan facility have been released and have supported construction progress. The total project cost is estimated at PHP 1.4 billion (~$ 23.8 million). The 28 MW Balsik project is one of five renewable energy projects currently under construction, as Alternergy aims to reach 500 MW of total capacity by 2026. The project is scheduled for completion in H1 2025.