By Alena Mae S. Flores Posted on Jun. 28, 2013 at 12:00am
Renewable energy producer Alternergy Wind One Corp. tapped BDO Capital and Investment Corp. to arrange a $130-million loan for the construction of the 67.5-megawatt wind power project in Pililla, Rizal.
BDO Capital president Eduardo Francisco told reporters a consortium of local banks was expected to sign the loan facility with Alternergy Wind One within the next two weeks.
The Pililla wind project is expected to be ready for commissioning by early 2015.
“BDO Capital and Investment Corp. is the lead arranger. But there are three other banks with us. PNB, RCBC and Chinabank,” Francisco said.
“We are funding this project. The loan is $130 million, representing 70 percent of the total cost. This loan will have a term of 12 and a half years,” Francisco said.
Alternergy Wind One recently received the confirmation of commerciality from the Energy Department for the wind power project.
Alternergy Wind One is developing the wind project in partnership with Korea East West Power, a unit of Korea Electric Power Co. source
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