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MANILA, Philippines – The Philippine National Bank (PNB) has extended a P3 billion project finance facility to support the development of an 82-megawatt-peak (MWp) solar power project in Isabela.
The Lucio Tan-led bank said on Thursday the funding will go to Linglingay Power Corp. (LPC), a wholly owned subsidiary of Hexa Philippines Holdings Inc. (HEXA). This is for the construction of a ground-mounted solar facility in Barangay Linglingay in Gamu town.
READ: DOE doubles down on push for renewables, energy security
The project forms part of the Department of Energy’s Green Energy Auction Program Round 2 which aims to accelerate the development of renewable energy projects through a competitive auction mechanism.
