ALTERNERGY Holdings Corp., a newly-listed renewable energy firm, has appointed former Securities and Exchange Commission commissioner Ephyro Luis B. Amatong as adviser to the firm’s board of directors.
The appointment came following the debut of Alternergy at the main board of the Philippine Stock Exchange last Friday, the first initial public offering of the year.
“Commissioner Amatong has a solid track record on financial markets and securities as a former SEC Commissioner. His work as supervising commissioner of markets and securities regulation helped create the right regulatory environment and set the stage for Alternergy to take the plunge of an IPO. This has given Alternergy a fresh inflow of capital to advance to construction phase two of our projects under development,“ Alternergy chairman Vicente S. Perez Jr. said.
These two projects are the Solana solar project in Bataan and the Lamut Run-of-River Hydro Project in Ifugao.
Perez said as a listed firm, Alternenergy can do other other capital raising activities in the future, including a bond float.
“Amatong can be very instrumental in guiding Alternergy with our future capital market issuances, particularly in the area of green bonds.”
Perez said the green bonds could be one of the financing modes to tap to fund future financing requirements of projects in the next three to five years.
Amatong, meanwhile, expressed confidence that the current economic uncertainties can be seen as opportunities to create innovative schemes that would bring out the most benefits to companies seeking financing and growth.
“As a renewable power pioneer, Alternergy has strong prospects for growth as well as multiple opportunities in the growing field of sustainable finance. I look forward to working with the Alternergy team to optimize funding and ensure that its portfolio of power projects is developed and delivered on time for the benefit of the communities it serves,” Amatong said.
Amatong served as SEC commissioner from May 2014 to March 2022. He was admitted to the Philippine Bar in 2002 and to the New York Bar in 2007.