GSIS Receives P118 Million as 1st Alternergy Holdings Dividend Payment

​Renewable power pioneer Alternergy Holdings Corporation (ALTER) successfully remitted to state-run pension fund Government Service Insurance System (GSIS) a total of P117.93 million its first annual dividend payment as a perpetual preferred shareholder.

“We are very happy to announce the remittance of our first dividend payment to GSIS. This fulfils our commitment to our valued shareholder just one year after its initial investment,” Vicente S. Pérez, Jr., ALTER chairman, said.

“As ALTER’s portfolio of renewable power projects start spinning starting next year, we expect a more robust shareholder value, underscoring our dedication to meaningful and sustainable investments,” he added.

GSIS infused a total of Php 1.45 billion in ALTER and is listed on the PSE Main Board under the ticker name ALTP2.

GSIS’s equity infusion paved the way for the accelerated development of ALTER’s Road to 500 MW growth target by 2026. GSIS’s investment in ALTER also helps fast track the government’s goal to increase renewable energy capacity share by 35% in 2030.
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ALTER has five projects currently under construction. By end 2025, ALTER’s total generating capacity is expected to reach 311 MW.

To complete its 2026 growth target, ALTER is seen to undertake a second round of capital raising. ALTER’s Road to 500 MW growth.

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 two years, Alternergy aims to develop up to 500MW 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 (PSE: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.