Singapore-based Levanta Renewables has reached financial close on its 166-megawatt peak solar power plant paired with an 80-megawatt-hour battery energy storage system in Barotac Viejo, Iloilo, sealing the ₱6.215-billion co-financing deal with Philippine National Bank during an August 5, 2026 ceremony at Makati Shangri-La. The project marks a key operational and corporate milestone for Levanta, unlocking full funding to move the utility-scale renewable facility into construction and development, with commercial operations targeted for the second quarter of 2027.
Pramod Singh, chief executive officer of Levanta Renewables, described the financial close as a pivotal step forward for the initiative, noting the partnership underscores strong institutional confidence in the company’s energy vision and project delivery capabilities. “We value PNB’s support and confidence in our vision. With strong partners behind us, we are well-positioned to deliver cleaner and more reliable energy for the Philippines,” Singh said. Once operational, the integrated solar and battery installation will add substantial renewable capacity to the Visayas power grid, directly advancing the country’s shift toward lower-carbon energy and strengthening grid reliability through stored power reserves.
For Philippine National Bank, the financing represents a strategic alignment of corporate lending priorities and national sustainability goals. Allan L. Ang, PNB FSVP and Corporate Banking Group Head, emphasized the deal’s dual role in supporting critical energy infrastructure and advancing the bank’s own sustainability framework. “PNB is proud to support Levanta Renewables in the development of this landmark clean energy project. As the country moves toward a more balanced and sustainable energy mix, we remain committed to supporting investments that help address growing energy needs, strengthen energy security, and drive inclusive economic growth,” Ang stated. He added the partnership reinforces PNB’s commitment to responsible financing and environmental stewardship, delivering long-term economic and social value to local communities and the broader national economy.
PNB Capital and Investment Corporation, the bank’s investment banking arm, served as one of the arrangers for the transaction, reflecting the institution’s full operational capacity to structure and execute large-scale renewable energy investments. The project stands as a significant corporate achievement for both parties, demonstrating growing private-sector collaboration to expand the Philippines’ renewable energy footprint and modernize its power infrastructure.
