Angeles Power Inc. (API), parent firm of listed renewable energy player Raslag Corp., has obtained a P2 billion loan from the Bank of the Philippine Islands to fund its 49.9-megawatt Paldo solar facility in Tarlac. Announced Thursday, the financing will support full construction and move the project closer to delivering steady, clean power to the national grid; the first shipment of solar panels has already arrived at the site.
The investment forms part of Raslag’s 2026 capital expenditure plan, set between P2 billion and P3 billion— a sharp rise from the P500 million spent in 2025, which covered mostly land acquisition. Company officials note actual spending may shift based on permit approvals, with funds earmarked primarily for equipment imports and land conversion.
The funding advances Raslag’s long-term target of reaching 1,000 MW of total renewable capacity by 2035. Beyond Tarlac, the group is also developing a 100 MW solar and battery storage project in Nueva Ecija. Currently, it operates 77.8 MW of renewable plants, with another 140 MW under pre-development and 190 MW in the proposal pipeline, positioning it as a growing contributor to the country’s clean energy goals.
The loan highlights stronger financial backing for local renewable projects, accelerates new power supply for Luzon, and underscores the industry’s rapid expansion as the Philippines moves toward more sustainable energy sources.
