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MANILA, Philippines – PetroGreen Energy Corp. (PGEC) has secured a P635.9-million project finance facility from Rizal Commercial Banking Corp. (RCBC) to help fund its first battery energy storage project in Capiz.
On Friday, PetroEnergy Resources Corp. said its subsidiary EcoSolar Energy Corp. (ESEC) signed an omnibus loan and security agreement with RCBC to partially finance the 20-megawatt (MW)/40-MW-hour battery energy storage system (BESS) in Panitan, Capiz.
READ: PetroGreen Energy secures ECC for 98-MW solar park
RCBC Capital Corp. served as lead arranger while RCBC Trust Corp. acted as facility agent and security trustee.
