The Bank of the Philippine Islands (BPI) has signed a ₱7.4 billion project finance deal with AP Renewable Energy Corp., a subsidiary of Aboitiz Renewables, Inc., to fund a 221-MWp solar power plant in Olongapo, Zambales.
The project marks a significant move toward expanding the country’s renewable energy capacity and aligns with the government’s clean energy transition goals.
“We are committed to partnering with businesses that share this mission,” said BPI institutional banking head Louie Cruz, emphasizing the bank’s role in supporting sustainable infrastructure from construction to long-term operations.
Aboitiz Renewables president Jimmy Villaroman highlighted the project’s importance to the company’s clean energy portfolio and its contribution to national targets. “Every project we build is the product of a highly motivated organization contributing to AboitizPower’s energy transition effort,” he said.
The partnership reflects a broader push by both institutions to drive long-term environmental and community impact through strategic clean energy investments.
