BDO Unibank Inc. (BDO), the country’s largest bank, has deepened its financial support to Cebu-based KEPCO SPC Power Corp. (KSPC), a move that highlights the crucial intersection of energy security and economic development.
KSPC, a subsidiary of South Korea’s Korea Electric Power Corporation (KEPCO), supplies 17 percent of Cebu Island’s installed power capacity and 20 percent of its total electricity generation. Its operations extend to Bohol, Panay, Negros, and Leyte—critical to sustaining industrial activity and community development across the central Philippines.
Since forming a strategic banking relationship in 2017, BDO has provided liquidity solutions, tailored financial instruments, and key credit facilities that have helped KSPC secure power sales contracts, maintain uninterrupted plant operations, and optimize cash asset management. In 2023, the bank facilitated standby letters of credit to support KSPC’s contract execution—demonstrating its responsiveness and alignment with client needs.
“When KSPC was securing multiple power sales contracts last year, BDO demonstrated a proactive and client-oriented approach,” said KSPC president Jeon, Yong Su.
BDO executive vice president and head of institutional banking group, Charles M. Rodriguez, emphasized, “Energy security is a cornerstone of progress. At BDO, we are committed to financing significant projects that power industries, uplift communities, and boost economic progress.”
KSPC, formed as a joint venture in 2005, began commercial operations in 2011 and has since achieved a cumulative net income of P26 billion, with a sustained profit margin nearing 25 percent. The company is now eyeing entry into the carbon credit market and exploring clean technologies in line with the Philippines’ low-carbon goals.
The partnership between BDO and KSPC underscores the growing importance of financial institutions in supporting infrastructure that underpins regional competitiveness and long-term sustainable growth.
