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’s 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.
“This transaction reflects our commitment to financing high-quality renewable energy projects that deliver long-term value,” Security Bank Capital Investment Corp. President and Chief Executive Officer Virgilio O. Chua said.
“By supporting Alba Renewables’ Solar Valley project, we are helping accelerate the country’s clean energy transition while backing infrastructure that contributes to energy security, emissions reduction, and resilient growth.”
Security Bank Capital acted as mandated lead arranger and bookrunner, while Security Bank served as sole lender, providing the full senior term loan facility.
“Renewable energy plays a critical role in supporting inclusive and sustainable economic growth,” Security Bank Corporate Banking Group Head Yvonne Joanna P. Marcelo said.
“By financing projects like Solar Valley, we help strengthen the country’s energy mix while enabling reliable, cost-competitive power for communities and businesses.”
Once completed, Solar Valley will supply renewable energy capacity to the Luzon grid under a fixed 20-year tariff awarded through the government’s Green Energy Auction Program (GEAP), providing revenue stability and long-term cash flow visibility.
“Construction is currently underway, supported by the development expertise of Alba Renewables and the global operating capabilities of Brookfield,” Security Bank said.
The transaction also marks Alba Renewables’ 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. — Aaron Michael C. Sy