PetroGreen Energy Corporation Secures up to ₱1.24 Billion RCBC Financing for Limbauan Solar Power Project in Isabela

Ilagan, Isabela- Yuchengco-led PetroGreen Energy Corporation (PGEC), through its subsidiaries Rizal Green Energy Corporation (RGEC) and BKS Green Energy Corp. (BKS), signed an Omnibus Loan and Security Agreement (OLSA) with Rizal Commercial Banking Corporation (RCBC) for an up to ₱1.24-billion project finance facility. The facility will partially finance BKS’s ~40MW DC / 33MW AC ground-mounted solar power plant located in Limbauan, San Pablo, Isabela. RCBC is the Lender and Accounts Bank, with RCBC Capital Corporation as Lead Arranger and RCBC Trust Corporation as Facility Agent and Security Trustee.

The Limbauan Solar Power Project is developed in two phases: Phase 1 covers 6.006 MW DC 5.013 MW AC and is backed by a Power Supply Agreement (PSA) with Isabela II Electric Cooperative (ISELCO II), while Phase 2 comprises 33.831 MW DC / 28.160 MW AC and was awarded with the Department of Energy’s (DOE) Green Energy Auction 2 (GEA-2) tariff.

“The Limbauan Solar Power Project represents another significant step in expanding PGEC’s renewable energy portfolio and supplying clean, sustainable electricity to the Luzon grid and local electric cooperatives,” said PGEC Vice President for Corporate Services, Atty. Arlan P. Profeta. “We are pleased to once again collaborate with RCBC, whose steadfast partnership continues to strengthen PGEC, through its subsidiaries RGEC and BKS, to deliver dependable and
environmentally responsible power infrastructure for local communities and industries.”

“Supporting clean energy projects like the Limbauan Solar Power Project aligns with RCBC’s core commitment to driving sustainable finance and accelerating the nation’s energy transition,” said RCBC Institutional Banking Group Head, Ms. Elizabeth E. Coronel.

“By partnering with BKS and PGEC, we help reinforce energy security, reduce carbon emissions, and contribute to
achieving the country’s long-term climate and renewable energy targets.”

This transaction marks another successful project financing collaboration between PGEC and RCBC, highlighting the shared commitment of both members of the Yuchengco Group of Companies (YGC) to advance clean energy development and nation-building across the Philippines.