GSIS invests P1.45 billion in alterenergy

STATE-RUN pension fund Government Service Insurance System (GSIS) and renewable power pioneer and publicly listed Alternergy Holdings Corp. (Alternergy) jointly announced the subscription by GSIS to P1.45 billion of Alternergy’s Perpetual Preferred Shares 2 Series A under a private placement.

Jose Arnulfo “Wick” Veloso, GSIS president and general manager, said GSIS’ investment in renewable energy “not only dovetails with the country’s National Renewable Energy Program but also provides a foundation for stable returns.

Our dual-pronged investment underscores our dedication to meaningful and profitable investments for our pensioners, all the while contributing to the nation’s pursuit of clean energy objectives.”