Alternergy Holdings Corporation Acquires Shares of Alternergy Solar Holdings Corporation

Alternergy Holdings Corporation (ALTER) acquires shares of Alternergy Solar Holdings Corporation (ASHCo) to organize its solar project companies under a common intermediate holding company.

In a meeting held yesterday, 25 September 2024, the Board of Directors of Alternergy Holdings Corporation (ALTER) approved the acquisition of twenty five thousand (25,000) Common shares to own up to one hundred percent (100%) of the issued and outstanding capital stock of Alternergy Solar Holdings Corporation (ASHCo).

ALTER desires to organize all its solar project companies under a common intermediate holding company to align with the existing structures that are already implemented for ALTER's wind and hydro groups.

ASHCo is a holding corporation with a primary purpose to invest in, purchase, or otherwise acquire and own, hold, sell, assign, transfer, mortgage, pledge, exchange, or otherwise dispose of real property and personal property of every kind and description, incorporated on 16 May 2024.

​Alternergy is a renewable power pioneer with a portfolio of project companies engaged in different RE projects, particularly wind, run-of-river hydro, solar farm and commercial rooftop, battery storage and offshore wind projects.

With robust expansion plans in the next three years, Alternergy aims to develop up to 474MW of additional wind, solar, and run of river hydro projects.

Alternergy’s management team is comprised of a pioneering group of RE advocates led by former energy secretary Vince Pérez, Gerry Magbanua, Knud Hedeager, Eduardo Martinez Miranda, Michael Lichtenfeld, Atty. Ina Arriola, Annette Rafael and Carmen Diaz.

Alternergy (ALTER) debuted at the Philippine Stock Exchange as the first initial public offering (IPO) in March 2023. In August 2024, ALTER has been included in the PSE Industrial Index.