Alternergy secures PHP 800 million for Balsik solar project in Bataan

RCBC has approved a PHP 1 billion facility and has released PHP 800 million to Alternergy’s Solana Solar Alpha for its 28 MW Balsik solar project in Bataan.

By Karthik Srivasthav G 30 Mar 2025 in Project Bytes Business Bytes

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Balsik solar project has been among five ongoing developments under Alternergy’s plan to reach 500 MW capacity by early 2026. Image Source: Alternergy

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.

#Philippines #RCBC #SolanaSolarAlpha #Alternergy

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