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MANILA, Philippines – Rizal Commercial Banking Corp. (RCBC) has provided a P4.5-billion financing facility for a 99-megawatt peak (MWp) solar-plus-storage project in Iloilo, marking another major investment in the Philippines’ growing renewable energy sector.
The Yuchengco-led bank said it had signed the omnibus loan and security agreement for Project Luca, a solar photovoltaic and battery energy storage system (BESS) development of Singapore-based renewable energy firm ib vogt APAC in Ajuy, Iloilo.
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RCBC will serve as the sole lender for the project, while RCBC Capital Corp. acted as lead arranger.
