New advisors steer Alter’s funding rounds

Renewable energy (RE) firm Alternergy Holdings Corp. (Alter), led by former Energy Secretary Vicente Pérez Jr. has appointed AlphaPrimus Advisors and Astris Finance to lead its next capital-raising activities as it races to bankroll its 500-megawatt (MW) capacity target. 

In a stock exchange disclosure on Monday, Alternergy said that the firms will provide strategic advice on funding options, following a successful P20 billion raised in just 15 months since its public listing in March 2023.

“This marks the next phase in our capital raising program. We’re excited to work with AlphaPrimus and Astris Finance, both of whom bring strong global and local expertise in M&A and renewables,” Alternergy president Gerry P. Magbanua said.

M&A specialists

AlphaPrimus Advisors specializes in merger and acquisition and debt advisory, with experience in nearly 80 transactions worth over $37 billion, particularly in the power and RE sector. Notable past engagements include advising Citicore Renewable Energy Corp. on its P6.7 billion deal with PT Pertamina Power Indonesia.

Meanwhile, Astris Finance, a global transaction advisory firm, has completed USD 60 billion in energy transition projects worldwide. In Southeast Asia, it has acted as an exclusive advisor on six capital-raise transactions worth over $500 million in the past three years.