Alternergy welcomes former SEC Commissioner Eph Amatong as Adviser to the Board

MANILA, Philippines — Renewable energy pioneer Alternergy Holdings Corporation (Alternergy) announced the appointment of Atty. Ephyro Luis Amatong as an adviser to the board of Alternergy. He is former Commissioner of the Securities and Exchange Commission.  

The appointment came following the debut of Alternergy at the Main Board of The Philippine Stock Exchange (PSE) last 24 March as the first company to conduct an initial public offering in 2023. 

“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,“ said Alternergy Chairman Vince Pérez.

These two projects are the Solana Solar Project in Bataan and the Lamut Run-of-River Hydro Project in Ifugao.

As an already publicly-listed company, Pérez added that the window for other capital-raising activities has been opened wider.

“Atty. Amatong can be very instrumental in guiding Alternergy with our future capital market issuances, particularly in the area of green bonds," he said adding that 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.

“We look forward to working closely with Atty.  Amatong and learn from his expertise and experience,” Pérez added.

For his part, Atty. Amatong 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. 

Following his retirement in March 2022, Atty. Amatong has been engaged as a consultant by multilateral development institutions including the World Bank Group and the Asian Development Bank (ADB).

This includes acting as a consultant for the Sustainable Banking and Finance Network supported by the International Finance Corp. and as Advisor to the ASEAN Capital Markets Forum sponsored by the ADB. 

Amatong served an SEC Commissioner for the period May 2014 to March 2022. He was admitted to the Philippine Bar in 2002 and to the New York Bar in 2007.