SB CAPITAL INVESTMENT Corp., the investment banking arm of Security Bank Corp., has closed a P2.015-billion financing facility for a solar power project in San Pablo, Isabela, as part of the bank鈥檚 push to support renewable energy.
The facility will fund the construction and development of Solar Valley Energy Solutions, Inc., a 65-megawatt-peak (MWp) ground-mounted solar power project, the bank said in a statement on Thursday.
The project is a joint venture between Alba Renewables Philippines and Soleos Energy Partners Pte. Ltd.
鈥淭his transaction reflects our commitment to financing high-quality renewable energy projects that deliver long-term value,鈥 Security Bank Capital Investment Corp. President and Chief Executive Officer Virgilio O. Chua said.
鈥淏y supporting Alba Renewables鈥 Solar Valley project, we are helping accelerate the country鈥檚 clean energy transition while backing infrastructure that contributes to energy security, emissions reduction, and resilient growth.鈥
Security Bank Capital acted as mandated lead arranger and bookrunner, while Security Bank served as sole lender, providing the full senior term loan facility.
鈥淩enewable energy plays a critical role in supporting inclusive and sustainable economic growth,鈥 Security Bank Corporate Banking Group Head Yvonne Joanna P. Marcelo said.
鈥淏y financing projects like Solar Valley, we help strengthen the country鈥檚 energy mix while enabling reliable, cost-competitive power for communities and businesses.鈥
Once completed, Solar Valley will supply renewable energy capacity to the Luzon grid under a fixed 20-year tariff awarded through the government鈥檚 Green Energy Auction Program (GEAP), providing revenue stability and long-term cash flow visibility.
鈥淐onstruction is currently underway, supported by the development expertise of Alba Renewables and the global operating capabilities of Brookfield,鈥 Security Bank said.
The transaction also marks Alba Renewables鈥 first project financing following its acquisition by global investment firm Brookfield Asset Management.
Alba Renewables is a regional independent power producer focused on developing utility-scale solar, wind, and battery storage projects across Southeast Asia. It has offices in Thailand, the Philippines, and Singapore. 鈥 Aaron Michael C. Sy
